Canadian Forest Service Publications

Dynamic programming: a tool for financial analysis of stand management regimes. 1993. White, W.A. Forestry Canada, Pacific Forestry Centre, Victoria, BC. Information Report BC-X-343. 15 p.

Year: 1993

Issued by: Pacific Forestry Centre

Catalog ID: 3351

Language: English

Series: Information Report (PFC - Victoria)

Availability: Order paper copy (free), PDF (download)

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Abstract

Dynamic programming is used to determine the optimal management regime for a stand of coastal Douglas-fir. Aspects of stand management considered include initial planting density, the timing and intensity of precommercial thinning, fertilization timing, and the optimal rotation length. Tree growth is simulated using the Tree and Stand Simulator (TASS) while costs and revenue functions reflect conditions on the British Columbia coast.

The results obtained show forest management fails to increase stand values given the 1985 costs and revenues used in this study. It becomes profitable if one assumes increased real prices in the future, if firms are given mature timber today in expectation of increased future volumes, or if a low discount rate is used.