| Sumario: | The behavior of optimum lengths of forest rotation periods under conditions of imperfect markets and nonconstant real price behavior for stumpage was examined to determine the proper evaluation criteria. It was found that optimum rotation periods decrease as the real price of stumpage increases exponentially in the absence of a structural change in the demand functions for stumpage. It was also found that if the downward sloping demand curve is constant within every rotation and shifts at the start of any rotation, the length of optimum rotation increases if the demand function becomes less elastic and decreases if the demand function becomes more elastic. Lastly, if demand is increasing exponentially within every rotation and undergoes a shift at the beginning of a rotation, the relationship between lengths of the optimum rotation periods depend on the magnitude and direction of the change in elasticity.
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