The conservation value of a forest can be high, but is usually omitted in determining the optimal forest rotation.A function representing conservation value can be based on an estimated above-ground, bio-mass function of the dominant tree. An economic model is used to estimate the break-even...

The modified logit model (Amemiya and Nold, 1975) is generalised to the case where the error term is autocorrelated. The asymptotic distribution (as n →∞ and T →∞) of a feasible GLS estimator of β is derived. Tests of linear restrictions on β and the significance of ρ are presented....