It is sometimes suggested that, because transformation of uneven-aged stands into an even-aged structure reduces profit, even-aged stands should be transformed to uneven-aged structure. The argument is false, because transformation in either direction incurs opportunity costs of felling trees...

It has been argued from a number of perspectives that the discount rate might decline with increasing period of discounting. With a stepped profile of decline, financially optimal rotations are quite likely to occur at a few discrete ages. For any form of declining discount rate, successor...

In this study a process-based growth model for even-aged Norway Spruce (Picea abies [L.] Karst.) is coupled with economics and optimization to analyze optimal management and cost of carbon sequestration. We extend earlier literature by including detailed timber quality features and optimized...

Classical forest economics posits an optimal sequence of constant rotations. Projected variation of discount rate changes optimal rotation through time, as does projected relative price change for multiple products. These factors greatly increase the difficulty of calculating NPV of...

Although several wood industry experts advocate the need for more product development in the industry, few studies have investigated the actual product development process in this context. This explorative study investigates innovation, specifically product development, in the Swedish and...

Although several wood industry experts advocate the need for more product development in the industry, few studies have investigated the actual product development process in this context. This explorative study investigates innovation, specifically product development, in the Swedish and...

Similarly to financial risk in markets, physical risk (threat or hazard) has sometimes been treated by adding a premium to the discount rate used for the NPV calculations applied to forestry options. As it happens, a discount rate premium reflecting the rate of threat gives the correct rotation...