Abstract

In recent times, a great deal of concern has been expressed about the decline in the USA's old growth forests. Although there is broad agreement among researchers that old growth forests provide timer and amenity services, and that forest harvesting decisions are inherently stochastic, there have been very few formal analysis that have explicitly accounted for these aspects of the old growth forest management problem. Consequently, this paper studies these aspects of the problem by formulating the decision to conserve or harvest an old growth forest as a Markovian stochastic control problem. It is then shown how this control problem can be analyzed numerically using standard linear programming techniques.

Publication Date

1998

Comments

Note: imported from RIT’s Digital Media Library running on DSpace to RIT Scholar Works in February 2014.

Document Type

Article

Department, Program, or Center

Sustainability (GIS)

Campus

RIT – Main Campus

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