Timberland properties have gained increasing attention in recent decades. The attractiveness of this asset primarily lies in its unique feature—the biological growth, which is independent of traditional financial markets. Using both parametric and nonparametric approaches, in this study we reexamine the financial performance of private- and public-equity timberland investments in the United States. Private-equity timberland re...

In an earlier article we presented a novel estimator for stand tables. The estimator performed much better than the usual estimator in simulation studies. In this article we extend the method to volume estimation, and demonstrate via simulation studies that total volume estimates from the pseudo-Bayes stand table estimator are superior to estimates derived from the usual stand table estimator. We also derive estimates for the...

Traditionally, modeling of permanent plot individual tree survival has not considered the multiple sources of heterogeneity and correlation that may arise due to the multilevel data structure inherent in the design (e.g., clustering of trees within a plot). Permanent plots are sampled periodically; therefore, data are interval-censored because it is only known that a tree died between two successive measurement occasions. Here...

A large source of variability in yield predictions is due to estimation of future surviving trees per unit area. Previous whole-stand survival modeling efforts have concentrated on modeling the empirical survival curve. Modeling hazard functions, an approach to survival analysis commonly used in fields such as medicine and sociology, can be applicable to plantation survival estimation. We offer a generalized method for derivin...

It cannot honestly be stated that digital imagery is a standard instrument in the repertoire of the professional natural resource manager. However, we believe that the opportunity to change that situation is rapidly approaching because a nexus of technology and need has finally occurred. However, pragmatic issues remain. The key to the successful adoption of any new tool, including digital imagery, is not just having the need,...