Pressler's indicator rate formula as a guide for forest management
Authors:
- Sun Joseph ChangSCSun Joseph Chang
- 1 August 2011
- journal article
- Published by Emerald Publishing in Journal of Forest Economics
- Vol. 17 (3) , 258-266
Abstract
In this paper, it is shown that Pressler's indicator rate formula is also the optimal condition for the determination of the optimal harvest age under the generalized Faustmann formula. In addition, a modern treatment of the quantity increment, quality increment, and price increment is presented. Pressler's indicator rate formula is then applied to determine the optimal harvest age in a dynamic world of unanticipated changes.Keywords
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