Fig. 3

Exemplary, arbitrary realisation of a stochastic sequence of spruce stands being either harvested regularly at age 100 or calamity induced. Calamity-induced harvests can happen earlier or at age 100. The survival function is defined by S ₁₀₀ = 0.5 (high risk) and α = 3.0 (old-age risk). The regular land rent is set to 100%, while it is lower in cases of calamity-induced final harvests. Furthermore, they last for a shorter time. The expected value, calculated as mean value, is determined by the survival probability at the end of rotation, the hazard probability density, the time span between planting and the final harvest, and the respective land rents