“…The economic literature on the optimal management of managed tropical forests has dealt with harvest damages in various ways. Some papers ignore damages altogether (e.g., Ingram & Buongiorno, ), some assume logging affects only smaller diameter classes (Boscolo & Buongiorno, ; Boscolo & Vincent, ; Boscolo, Buongiorno, & Panayotou, ), whereas others have a detailed representation of the harvest‐damage relation (Indrajaya, van der Werf, Weikard, Mohren, & van Ierland, ). Importantly, all papers assume that all damaged trees (whether they are dead or only injured) decay quickly and do not affect the remaining stand.…”