Abstract Economic studies in timber management often rank opportunities in terms of relative profitability which may help forest managers spend funds in an effective manner. Different profit criteria may be used. A case study was made to appraise the practical, as opposed to theoretical, importance of differences among profit criteria. Twenty-three timber management opportunities were ranked according to different criteria, including internal rate of return, contribution-to-present-net-worth and value-response-per-cost-dollar each at two different interest rates, and pay-out period used in two different ways. Practical differences among profit criteria were tested with opportunities that are mutually exclusive.
Henry H. Webster (Thu,) studied this question.
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