Modeling optimal pine stands harvest under stochastic wood stock and price in Chile

Eduardo Navarrete

Forest Policy and Economics, 2012, vol. 15, issue C, 54-59

Abstract: The single and multiple optimal rotation harvesting pine stands models under Logistic wood stock and Brown price stochastic diffusion processes are reformulated as optimal stopping problems with one dimensional stochastic diffusion solvable with the Hamilton–Jacobi–Bellman equations.

Keywords: Optimal tree cutting; Logistical diffusion; Real options; Operation research (search for similar items in EconPapers)
JEL-codes: C44 C61 G32 Q23 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:15:y:2012:i:c:p:54-59

DOI: 10.1016/j.forpol.2011.09.005

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