Forest Land Expectation Value or Maximum Sustained Yield? Resolving A Long-Standing Paradox
The Faustmann formula, equivalent to the land expectation value (LEV), yields the present value, starting with bare land, of an infinite series of future timber rotations for a stand. If this formula is used to find the rotation age that maximizes the present value, a lower annual harvest will resul...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-05-01
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| Series: | Forests |
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| Online Access: | https://www.mdpi.com/1999-4907/14/5/1052 |