A Note on the Convex-Concave Growth Function and Stumpage Prices
The search of a relation between the growth and the stock of forests from the Finnish data led Korpinen ( 1936) to the idenfication of a convex-concave growth function .
As trees are produced by trees and land which is more or less constant, the theory of optimal growth for the composite commodity can be applied to the economies of forestry in a rather straight forward manner.
In the case of rational expectations and stumpage prices in the context of convex-concave growth function Skiba’s (1978) contribution is directly applicable. The purpose of this note is to work out Skiba’s model for the optimizing behaviour af forest owners.
- ISSN: 0357-9603
- ISBN: 951-9281-71-1
