Measuring and ranking FM scenarios using particular multivariate and multi-criteria methods
Hodges, D. G., L. Zadnik-Stirn, J. Krc, V. Leban, and S. M. Pezdevsek.  2017.  Interconnecting Forests, Science and People, p. 67, In: Book of Abstracts from 125th Anniversary Meeting of the International Union of Forest Research Organizations, Freiburg, Germany.  (invited)

A primary contribution of forest economics over the past 125 years has been the range of techniques developed for forest management decision making that consider timber and non-timber outputs; incorporate public concerns and demands; and optimize economic, social, and environmental objectives. Economics-based forest management decision models began with traditional financial approaches described by Faustmann, offering managers a means by which alternative timber management strategies could be evaluated. This was followed by extensions to incorporate non-timber objectives, econometric techniques to assess multiple objectives and outputs, and mathematical optimization methods such as linear and goal programming. More recently, multi-criteria methods such as AHP have been introduced to incorporate social values into the decision-making process. To date, few researchers have traced the progression of these techniques over time. This presentation will briefly outline the evolution of the various techniques, beginning with basic financial approaches through mathematical optimization and multi-criteria models. Examples for each primary methodology will be provided and discussed, followed by a review of their advantages, disadvantages, and applicability for specific forest management problems.