Thinnings as unequal harvest ages in even-aged forest stands

Abstract

In the broadly applied and simplified Faustmann model, all trees are harvested at the same age. While this property might only be justified under specific conditions, this article explores the incentives and prerequisites of harvesting trees prior to the rotation age. Though the analysis concentrates on homogenous forest stands with equally growing trees at the same ages, the proposed approach might be interpreted as a solution to the more general even-aged and heterogeneous stand as well as to the many aged forest. The results indicate that negative interdependencies concerning the timber value and heterogeneity concerning differences in the rate of value growth are necessary for deviations from the optimal simplified Faustmann harvest age. Due to the impact of the land rent, though, they are not sufficient. The article closes with proposals for the application of the results obtained to forest management with the help of heuristic and adaptive management strategies. © 2014 Society of American Foresters.