Techniques for Prescribing Optimal Timber Harvest and Investment Under Different Objectives—Discussion and Synthesis

Abstract

Abstract Numerous techniques have been suggested for optimizing timber harvest and investment on public and private forests managed on an even-aged basis. Two models are presented which appear to be the basis for techniques commonly used to solve this optimization problem. A number of these techniques are presented as formulations of the linear or quadratic objective forms of the two models. Techniques covered in the discussion on the linear objective form include simple financial maturity, soil rent, and financial maturity including land holding costs. The relation of Timber Resources Allocation Method (Timber RAM) to this linear objective form is discussed, and a number of iterative allowable cut techniques, such as area-volume check, Simulating Intensively Managed Allowable Cut (SIMAC), and Short Run Allowable Cut (SORAC), are formulated as linear objective versions of the models. Techniques covered in the discussion on the quadratic objective form of the models include simple financial maturity and financial maturity including land holding costs. The Economic Harvest Optimization Model (ECHO) is formulated as a quadratic objective version of one of the models.