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- Title
AN ESTIMATION OF THE ROTATION AGE USING AUTOREGRESSIVE PRICE MODEL AND TRUNK ANALYSIS DATA: RESULTS FOR PINUS BRUTIA TEN.
- Authors
NAMDARI, S.; ADELI, K.; SOOSANI, J.; OSTAKH, E.
- Abstract
The present study was conducted in southwestern Iran and it aimed to determine the optimal rotation age of Turkish pine (Pinus brutia Ten) at which the marginal revenue equaled to the marginal cost. The volume growth, stumpage price, setup cost and interest rate were considered as essential factors for calculating the optimal rotation age. The data of volume growth were extracted through Trunk Analysis Method and stumpage price of Pinus brutia was estimated through autoregressive model. The results showed that the optimal harvest age of Pinus brutia occured in the age range of 18 to 23 years when the land's expected value maximizes. It is noteworthy that cultivation of the stated species was found to be economically justifiable in this area.
- Subjects
PINUS brutia; MATHEMATICAL models of pricing; AUTOREGRESSION (Statistics); VALUATION of forests; EXPECTED returns
- Publication
Applied Ecology & Environmental Research, 2018, Vol 16, Issue 1, p281
- ISSN
1589-1623
- Publication type
Article
- DOI
10.15666/aeer/1601_281290