LAUSR

Abstract Forest management decisions about species mixture and harvest time are usually bound to economic considerations. Ecosystem services (ES), aside from timber production, are hardly considered. Although the consideration of multiple ES became common in recent years, it is still unclear how ES can be integrated into forest optimization and how this changes forest management. To show possible changes when different ES are considered, our study examined the impact of the market value of three ES (timber production, carbon storage and groundwater recharge) on management decisions under different levels of risk. We included two common European tree species (European beech and Norway spruce) as well as market risks and the risk of stand failure in our optimization. We examined how the optimal species composition and harvest schedule change when considering different ES. The inclusion of different ES changes the optimal harvest schedule and species composition. Including carbon storage leads to small changes in harvest schedule and species composition. Adding groundwater recharge led to a diversified portfolio but it consisted completely of European beech. We also discuss ecological complexities so far not considered in our approach and their possible consequences for the results.