Journal of Forest Economics > Vol 21 > Issue 1

An economic analysis of double-cohort forest resources

Andreas Halbritter,
Suggested Citation
Andreas Halbritter (2015), "An economic analysis of double-cohort forest resources", Journal of Forest Economics: Vol. 21: No. 1, pp 14-31.

Publication Date: 0/1/2015
© 0 2015 Andreas Halbritter
JEL Codes:Q230Q560
Uneven-aged forest managementDouble-cohort resourceGeneralized Faustmann modelShelterwoodSeed-tree methodGrowth competitionNatural regeneration


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In this article:
Optimal management 
Comparative static analysis 
Dynamic model extension 


Under increasing economic pressure the use of natural regeneration is steadily gaining importance in the forest sector. Double-cohort stand systems, such as seed-trees, shelterwood and many two-aged variations supporting natural seeding, are common silvicutural practices. This paper presents a unified economic approach integrating the most common management alternatives of a double-cohort forest resource in one generalized deterministic model. A three-dimensional problem is solved for regeneration age, overstory density and removal cut maximizing the land expectation value and analyzed in a comparative static analysis. The findings of the model analysis are discussed in a comparison with even- and uneven-aged management. In addition, the dynamic even-aged thinning problem is extended to two age-classes and solved.