Majority of the forest economics literature assumes catastrophic disturbances that force regeneration of the stand.
In reality, disturbances may not be catastrophic, and the remaining stand is subject to subsequent disturbances. After disturbance, whether to keep managing remaining forest stand or to clear-fell the stand and start a new rotation remains a question that very few research have studied. The research objective of this project is to determine the optimal forest clear-felling policy after disturbance contingent on age and cumulative damage share, while accounting for
systematic salvage. We address the research question by employing both an intuition model and a dynamic programming framework.
