Optimal deterministic and stochastic continuous cover forestry

Abstract

It is shown that optimal continuous cover forestry generates a higher present value than rotation forestry in a large set of problems. Economic and biological parameters influence optimal values and decision rules. Explicit analytical derivations of optimal values and decision rules based on deterministic assumptions are included. A possibly changing climate, wood market price changes and other “stochastic” events influence optimal decisions. Hence, optimal adaptive decision rules are determined via multi stage stochastic programming and stochastic dynamic programming in Markov chains. The expected present value changes caused by stochastic events are determined

Published in

New Opportunities for Operations Research
2003,
Publisher: INFORMS

Conference

New Opportunities for Operations Research

SLU Authors

• Lohmander, Peter

  • Department of Forest Economics, Swedish University of Agricultural Sciences
    

UKÄ Subject classification

Social Sciences
Economics and Business
Forest Science


Permanent link to this page (URI)

https://res.slu.se/id/publ/2255