An Optimal Management Strategy of Carbon Forestry with a Stochastic Price

An Optimal Management Strategy of Carbon Forestry with a Stochastic Price

An analysis for the value of carbon forestry needs to be provided for the successful establishment of the carbon offset market in Korea. We present an optimal management strategy for a forest owner who participates in the offset market. Given a stochastic process of the timber price following a geom...

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Bibliographic Details
Main Authors: Sora Yoo, Yong-sung Cho, Hojeong Park
Format: Article
Language:English
Published: MDPI AG 2018-09-01
Series:Sustainability
Subjects:
forest valuation
carbon forestry
optimal harvesting time
stochastic price
Online Access:http://www.mdpi.com/2071-1050/10/9/3290

Internet

http://www.mdpi.com/2071-1050/10/9/3290

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