Harvest decisions and asset valuation for biological resources exhibiting size-dependent stochastic growth
Harvest decisions and asset valuation for biological resources exhibiting size-dependent stochastic growth
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生物资源的收获决策和资产评估表现出规模依赖性随机增长
DOI：
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发表时间：
1990
期刊：
影响因子：
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通讯作者：
H. Clarke
中科院分区：
文献类型：
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作者：
W. Reed;H. Clarke
最优收获规则和收获前的估价程序，来自生物资产的随机大小依赖的增长在随机价格环境。这些问题被分析为连续时间最优停止问题。“单轮”和“持续旋转”的问题都得到了解决。评估收获和估值规则的敏感性。的结果进行了比较与来自“近视前瞻”的程序，并与年龄依赖性增长的相应结果。1990年由宾夕法尼亚大学经济系和大坂大学社会经济研究协会版权所有。
Optimal harvest rules and preharvest valuation procedures are derived for biological assets with stochastic size-dependent growth in a stochastic price environment. These issues are analyzed as continuous-time optimal stopping problems. Both the "single-rotation" and "ongoing-rotations" problems are addressed. The sensitivity of harvest and valuation rules is assessed. The results are compared with those derived from a "myopic look-ahead" procedure and with the corresponding findings for age-dependent growth. Copyright 1990 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.