Uncertainty and the bioeconomics of near-natural silviculture

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Research in ‘silviculture’ and ‘forest economics’ very often takes place largely independent from each other. While silviculture predominantly focuses on ecological aspects, forest eco-nomics is sometimes very theoretic. The applied bioeconomic models often lack biological realism. Investigating mixed forests this proposal tries to improve bioeconomic modelling and optimisation under uncertainty. The hypothesis is tested whether or not bioeconomic model-ling of interacting tree species and risk integration would implicitly lead to close-to-nature forestry. In a first part, economic consequences of interdependent tree species mixed at the stand level are modelled. 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 optimisation of species proportions and harvest-ing ages. It starts with a mean-variance optimisation as a reference solution. The obtained results are compared with data from alternative approaches as stochastic dominance, down-side risk and information-gap robustness.