The Effect of Fire Risk on the Critical Harvesting Times for Pacific Northwest Douglas-Fir When Carbon Price Is Stochastic

The forest owner's decision regarding when to harvest, based on forest's current worth, is analyzed using the real options approach for a representative Pacific Northwest Douglas-fir stand when the carbon price is stochastic and there is a fire risk. The problem is framed as a linear compl...

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Veröffentlicht in:	Agricultural and resource economics review 2012-12, Vol.41 (3), p.313-326
Hauptverfasser:	Creamer, Selmin F., Genz, Alan, Blatner, Keith A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Carbon Contributed Papers Forest management Harvest Prices Stochastic models Timber
Online-Zugang:	Volltext
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