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- W1490201334 abstract "In this paper, we rank the relative importance of the exogenous parameters upon the optimal harvesting size in a stochastic rotation problem. We show that when the tree growth follows geometric Brownian motion, the harvesting size is most elastic to the harvesting cost, followed by the interest rate, and is least elastic to the parameters of tree growth. Similar ranking holds for the linear growth case. In both cases the harvesting size is increasing and concave in the harvesting cost, bounded between two parallel lines. The harvesting decision is made according to a stochastic extension of the Faustmann formula." @default.
- W1490201334 created "2016-06-24" @default.
- W1490201334 creator A5085402959 @default.
- W1490201334 date "2003-01-01" @default.
- W1490201334 modified "2023-09-24" @default.
- W1490201334 title "On the Elasticities of Harvesting Rules" @default.
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- W1490201334 doi "https://doi.org/10.2139/ssrn.466583" @default.
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