Adaptive Optimization of Forest Management in a Stochastic World

Abstract

Management decisions should be based on the sequentially revealed information concerning prices, growth, physical damages etc. Future flexibility is valuable in a stochastic world and should be optimized. Stochastic dynamic programming, stochastic scenario tree optimization, and optimization of adaptive control functions with stochastic simulation of the objective function are relevant alternatives.

Keywords

Forest managements; Stochastic dynamic optimization

Published in

International Series in Operations Research and Management Science
2007, number: 99, pages: 525-543
Title: Handbook of Operations Research in Natural Resources
Publisher: Springer

SLU Authors

• Lohmander, Peter

  • Department of Forest Economics, Swedish University of Agricultural Sciences
    

UKÄ Subject classification

Economics and Business
Social Sciences

Publication identifier

• DOI: https://doi.org/10.1007/978-0-387-71815-6_28
• ISBN: 978-0-387-71814-9
• eISBN: 978-0-387-71815-6

Permanent link to this page (URI)

https://res.slu.se/id/publ/16146