A Matrix Model of Oak-Hickory Stand Management and Valuing Forest Land

Publisher： Society of American Foresters

ISSN： 0015-749X

Source： Forest Science, Vol.32, Iss.3, 1986-09, pp. : 759-768

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Abstract

A matrix model of oak-hickory stands is developed for analyzing the economics of naturally regenerated even-aged hardwood forests. Linear programming is used to evaluate two oak-hickory stands. The model addresses the inherent differences between the management of naturally regenerated forests with traditional plantation management. The value of liquidating a stand in one harvest is compared with liquidation in two harvests. The value of maintaining an oak-hickory stand in even-aged management forever is determined for existing stands by calculating the present value of two variable harvests plus an infinite series of identical rotations (each consisting of two harvests) thereafter. The first harvest may be either a preparation cut or a regeneration cut depending on the condition of the existing stand. A preparation cut opens the stand to encourage the establishment of natural regeneration. A regeneration cut releases the regeneration encouraged by the preparation cut. Forest Sci. 32:759-768.