What is the real optimal timber stocking?
2001
Knoke, T. | Borchert, H.
This paper discusses the results reported by DEEGEN in his article 'Concerning the Economic Optimal Growing Stock of a Multi-functional Selection Forest' (Forst und Holz, Heft 24/2000). Firstly, we embrace DEEGENS approach of computing opportunity costs provoked by a timber stocking above the optimal stocking, which is instructive and theoreticallly right. However, using an example we can show that DEEGENS growing stock is not efficient and hence not optimal from an economic point of view. DEEGEN calculates that growing stock, which produces a profit of zero. In contrast, our consideration is based on the assumption that profit is supposed to be maximised. Finally we present our interpretation of the negative opportunity costs reported by DEEGEN, which occur when the growing stock is lower than DEEGENS optimal growing stock. The fact that decreasing the growing stock, which is assumed to be optimal, leads to profits supports our statement that DEEGENS optimal growing stock is actually not optimal.
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