Stochastic Forest Stand Value and Optimal Timber Harvesting
Stochastic Forest Stand Value and Optimal Timber Harvesting
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DOI：
10.1137/s0363012901393456
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发表时间：
2003-06
期刊：
影响因子：
--
通讯作者：
L. Alvarez
中科院分区：
文献类型：
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作者：
L. Alvarez
通过将采伐资源的价值建模为时间均匀、规则和线性扩散，我们考虑了在合理森林管理文献中出现的Faustmann木材采伐问题。我们给出了一组易于验证的一般条件，在这些条件下，最优切割值的存在性和唯一性得到保证，从而保证了最优脉冲控制。我们还提出了一组条件，在这些条件下，波动性增加会增加不可逆收获策略的值和最佳收获阈值。
We consider a Faustmann timber harvesting problem arising in the literature on rational forest management by modeling the value of the harvested resource as a time homogeneous, regular, and linear diffusion. We state a set of easily verifiable general conditions under which the existence and uniqueness of an optimal cutting value and, consequently, an optimal impulse control, are guaranteed. We also present a set of conditions under which increased volatility increases both the value and the optimal harvesting threshold at which the irreversible harvesting strategy is exercised.