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Economics of Mixed Forests

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Mixed-Species Forests

Abstract

This chapter introduces the economic framework of, but also challenges to, modern financial theory when applied in environmental and particularly forest science studies. It demonstrates the characteristics of financial models to capture the effects of mixing tree species. In addition, the chapter demonstrates how a portfolio-based approach for deriving the long-term forest structure as applied to the example of species composition and timber quality could form a new tool for forest management planning at the company level. Furthermore, it is shown how transitioning to the stand level through the consideration of interactions between tree species will alter the results compared to forest-level studies. The chapter concludes with advances in modelling the economics of near-natural forestry, where mixing of tree species is a key issue. This is done by means of optimising the distribution of timber harvests over time simultaneously with the composition of tree species.

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Notes

  1. 1.

    http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1990/markowitz-lecture.pdf

  2. 2.

    Assmann (1970, p. 469) concluded from his comparison of the increment in rotation forests (called high forests) and selection forests (as an important representative of continuous cover forests): ‘The high forest stand, …, is not only superior in current increment over the last 16 years, and that by as much as 19%, but assuredly also in m.a.i. [mean annual increment] for the same harvesting age. Contrary to current widely prevailing views, the pronounced vertical layering of selection forests has an efficiency-reducing effect …’.

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Authors and Affiliations

  1. Faculty of Forest Science and Resource Management, Institute of Forest Management, Technical University of Munich, Hans-Carl-von-Carlowitz-Platz 2, 85354, Freising, Germany

    Thomas Knoke

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Editors and Affiliations

  1. Faculty of Forest Science and Resource Management, Chair for Forest Growth and Yield Science, Technical University of Munich, Freising, Germany

    Hans Pretzsch

  2. Swiss Federal Institute for Forest, Snow and Landscape Research WSL, Birmensdorf, Switzerland

    David I. Forrester

  3. Institute of Forest Sciences, Chair of Silviculture, University of Freiburg, Freiburg, Germany

    Jürgen Bauhus

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Knoke, T. (2017). Economics of Mixed Forests. In: Pretzsch, H., Forrester, D., Bauhus, J. (eds) Mixed-Species Forests. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-54553-9_11

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