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dc.contributor.authorPrice, Colin
dc.contributor.authorSjølie, Hanne Kathrine
dc.contributor.authorCaurla, Sylvain
dc.contributor.authorYousefpour, Rasoul
dc.contributor.authorMeilby, Henrik
dc.date.accessioned2023-02-09T14:28:33Z
dc.date.available2023-02-09T14:28:33Z
dc.date.created2020-09-10T13:46:24Z
dc.date.issued2020
dc.identifier.citationForest Policy and Economics. 2020, 118.en_US
dc.identifier.issn1389-9341
dc.identifier.urihttps://hdl.handle.net/11250/3049819
dc.description.abstractSchedules of declining discount rates have been advocated, and adopted by several European governments. They undermine classical solutions to forest economics problems, especially optimal rotation. Adapting classical first-order conditions created problems of local optimisation. A global search algorithm allowed inclusion of initial costs and thinning revenues. It produced results according with expectations – lengthening rotations as time progressed – and results paralleling those for constant discount rates – shorter rotations for high productivity and unthinned crops, and with zero crop formation costs. Apparent anomalies in the pattern of rotations are the due result of opportunity costs from later rotations, which increase as discount rate declines. Sometimes the solution oscillates, usually owing to steps in the discount schedule or irregular profile of felling revenues. Inspection allows the most profitable result to be identified.en_US
dc.language.isoengen_US
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectdeclining discount rateen_US
dc.subjectoptimal forest rotationen_US
dc.subjectintermediate cash flowsen_US
dc.titleOptimal rotations with declining discount rate: incorporating thinning revenues and crop formation costs in a cross-European comparisonen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionacceptedVersionen_US
dc.subject.nsiVDP::Matematikk og Naturvitenskap: 400::Zoologiske og botaniske fag: 480en_US
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210en_US
dc.source.pagenumber8en_US
dc.source.volume118en_US
dc.source.journalForest Policy and Economicsen_US
dc.identifier.doi10.1016/j.forpol.2020.102218
dc.identifier.cristin1828761
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal