Browsing by Author "James S. Schmidt"

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    A Comprehensive Examination of Economic Harvest Optimization Simulation Methods
    (1981) James S. Schmidt; Philip L. Tedder
    The simulation algorithms that determine a harvest trajectory based on supply and demand—Economic Harvest Optimization (ECHO) and the present net worth (PNW) option of the Timber Resource Economic Estimation System—appear to offer reasonable approximations of optimal harvest regimes and to approach stable harvests. The two versions differ primarily in the calculation of growth on the marginal acre and in the way the algorithms iterate to a feasible solution. The impact of commercial thinning, shifting demand curves, and multiple sites and species is discussed relative to the capability of the algorithms to achieve optimality and stability. FOREST Sci. 27:523-536.