Continuous and balanced timber harvests are often used as one indicator for sustainable forestry. It was analyzed if a harvest schedule, which fulfills these characteristics, is financially optimal for forest owners. Non-linear programming was applied to account for different risk attitudes of forest owners, in particular risk neutrality and levels of risk aversion. In the prefix of this quantitative study a clarification of terms on sustainable forestry was carried out. Furthermore, the importance of efficiency and risk aspects for forest management planning were demonstrated.
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Continuous and balanced timber harvests are often used as one indicator for sustainable forestry. It was analyzed if a harvest schedule, which fulfills these characteristics, is financially optimal for forest owners. Non-linear programming was applied to account for different risk attitudes of forest owners, in particular risk neutrality and levels of risk aversion. In the prefix of this quantitative study a clarification of terms on sustainable forestry was carried out. Furthermore, the importa...
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