Adaptive Optimization of Forest Management in A Stochastic World

Peter Lohmander ()
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Peter Lohmander: SLU

Chapter Chapter 28 in Handbook Of Operations Research In Natural Resources, 2007, pp 525-543 from Springer

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 Management; Reservation Price; Stock Level; Optimal Harvest; Price Risk (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/978-0-387-71815-6_28

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