Abstract
Financial anaylses of intensive and low-cost reforestation options are conducted for two predominant timber types in the United States: loblolly pine (
Pinus taeda L.) stands with hardwood competition in the South, and Douglas-fir (
Pseudotsuga menziesii (Mirb.) Franco) and red alder (
Alnus rubra Bong.) stands in the Pacific Northwest. Results show that the expected present values (EPVs) of low-cost options that result in mixtures of conifers and hardwoods are superior, in some situations, to the EPVs of the intensive options. For the loblolly pine type, the low-cost option is superior when markets exist for both pine and hardwood thinnings. For the Douglas-fir type, the low-cost option is superior when precommercial thinning of red alder is an option. In both cases, it is assumed that conifers are likely to dominiate hardwoods after reforestation. The low-cost options are superior in these situations, because mixed-species stands include the option to change species composition and density in mid-rotation, contingent on the relative stumpage prices. Results suggest that low-cost regen eration options may satisfy both economic and environmental objec tives that are difficult to attain with intensive forest practices.
Keywords
decision analysis,
even-aged management,
low-cost management,
Pseudotsuga menziesii,
Alnus rubra,
Pinus taeda
Citation
Haight, Robert G. 1993. Technology change and the economics of silvicultural investment. Gen. Tech. Rep. RM-GTR-232. Fort Collins, CO: U.S. Department of Agriculture, Forest Service, Rocky Mountain Forest and Range Experiment Station. 18 p. https://doi.org/10.2737/RM-GTR-232.
