Document Type
Article
Journal/Book Title/Conference
Economics Research Institute Study Paper
Volume
10
Publisher
Utah State University Department of Economics
Publication Date
1998
Rights
Copyright for this work is held by the author. Transmission or reproduction of materials protected by copyright beyond that allowed by fair use requires the written permission of the copyright owners. Works not in the public domain cannot be commercially exploited without permission of the copyright owner. Responsibility for any use rests exclusively with the user. For more information contact the Institutional Repository Librarian at digitalcommons@usu.edu.
First Page
1
Last Page
17
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 reserachers that old growth forests provide timber and amenity services, and that forest harvesting decisions are inherently stochastic, there have been very few formal analyses that have explicitly accounted for these aspects of the old growth forest management problem. Consequently, in this paper I study these aspects of the problem by formulating the decision to conserve or harvest an old growth forest as a Markovian stochastic control problem. I then show how this control problem can be analyzed numerically using standard linear programming techniques.
Recommended Citation
Batabyal, Amitrajeet A., "On Some Aspects of the Decision to Conserve or Harvest Old Growth Forest" (1998). Economic Research Institute Study Papers. Paper 148.
https://digitalcommons.usu.edu/eri/148