Modeling the Effect of Uncertainty on Timber Harvest: A Suggested Approach and Empirical Example
A method is suggested for modeling uncertainty when there is a lack of information concerning the effect of forest management decisions on tree growth. Dynamic programming is used to investigate the optimality of alternative management strategies. The model is illustrated with an empirical example f...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Western Agricultural Economics Association
1992-07-01
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| Series: | Journal of Agricultural and Resource Economics |
| Subjects: | |
| Online Access: | https://ageconsearch.umn.edu/record/30740 |