Bioeconomic modelling and optimisation of forest stands: Towards silvicultural economics
Research in ‘silviculture’ and ‘forest economics’ very often takes place largely independent from each other. While silviculture predominantly focuses on ecological aspects, forest economics is sometimes very theoretic. The applied bioeconomic models often lack biological realism. Investigating mixed forests this project tries to improve bioeconomic modeling and optimization under uncertainty. The hypothesis is tested whether or not bioeconomic modeling of interacting tree species and risk integration would implicitly lead to close-to-nature forestry. In the first part, economic consequences of interdependent tree species mixed at the stand level are modeled. This part is based on published literature, an improved model of timber quality and existing data on salvage harvests. A model of survival over age is then to be developed for mixed stands. A second section then builds upon data generated in part one and concentrates on the simultaneous optimization of species proportions and harvesting ages. It starts with a mean-variance optimization as a reference solution. The obtained results are compared with data from alternative approaches as stochastic dominance, downside risk and information-gap robustness.