Concerning the relevant domain of the Faustmann model

Concerning the relevant domain of the Faustmann model

This paper addresses the constraints that are often laid upon the tree value or timber volume function of analyses employing the Faustmann model. Frequently employed assumptions unnecessarily restrict the relevant domain in which maximal land expectation values can possibly occur such that boundary...

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Veröffentlicht in:Canadian journal of forest research 2014-08, Vol.44 (8), p.886-891
1. Verfasser: Coordes, Renke
Format: Artikel
Sprache:eng
Schlagworte:
fonction de croissance
fonction de production
Forest dynamics
Forestry research
growth function
hypothèses de modélisation
Industrial production
investissement optimal
Investment
land expectation value
model assumptions
optimal investment
production function
production functions
Properties
Property values
Timber
trees
valeur d’attente du sol
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Beschreibung
Zusammenfassung:This paper addresses the constraints that are often laid upon the tree value or timber volume function of analyses employing the Faustmann model. Frequently employed assumptions unnecessarily restrict the relevant domain in which maximal land expectation values can possibly occur such that boundary solutions may arise. The overly restrictive constraints might be set when growth functions are inadvertently treated as production functions.
ISSN:1208-6037
0045-5067
1208-6037
DOI:10.1139/cjfr-2013-0467