TIMBER SUPPLY UNDER DEMAND UNCERTAINTY: WELFARE GAINS FROM PERFECT COMPETITION WITH RATIONAL EXPECTATIONS

DOI10.1111/J.1939-7445.2003.TB00103.XMaRDI QIDQ4458261zbMATH OpenOpenAlexFDO

Authors Peichen Gong, Karl-Gustaf Löfgren

Publication date 17 March 2004

Published in Natural Resource Modeling (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1111/j.1939-7445.2003.tb00103.x

zbMATH Keywords

Lucas critiquemonopolyoptimal timber harvestrational price expectationstimber market

Mathematics Subject Classification ID

Stochastic models in economics (91B70) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

Recommendations

• AN OPTIMIZATION APPROACH TO IDENTIFYING TIMBER SUPPLY FUNCTION COEFFICIENTS
• MODELING THE EFFECT OF INSTITUTIONAL CONSTRAINTS ON SHORT‐RUN TIMBER SUPPLY ON PUBLIC LAND: A CASE STUDY OF QUOTA HOLDERS IN ALBERTA
• Timber harvest scheduling with price uncertainty using Markowitz portfolio optimization
• Structural estimation of the stochastic dynamic decision problems of resource users: An application to the timber harvest decision
• The optimal harvesting problem under price uncertainty

Cites work

• An efficient method for finding the minimum of a function of several variables without calculating derivatives
• AN OPTIMIZATION APPROACH TO IDENTIFYING TIMBER SUPPLY FUNCTION COEFFICIENTS
• Behavioral Modes for a Firm Facing an Uncertain Supply or Demand Curve
• Buying and selling behavior in stochastic environments with backstop markets

Cited in

(7)

• Federal timber restrictions, interregional spillovers, and the impact on US softwood markets.
• TIMBER MARKETS AND FUEL TREATMENTS IN THE WESTERN U.S.
• AN OPTIMIZATION APPROACH TO IDENTIFYING TIMBER SUPPLY FUNCTION COEFFICIENTS
• MODELING THE EFFECT OF INSTITUTIONAL CONSTRAINTS ON SHORT‐RUN TIMBER SUPPLY ON PUBLIC LAND: A CASE STUDY OF QUOTA HOLDERS IN ALBERTA
• Optimal Forestry Contracts under Asymmetry of Information
• Analysis of uncontrollable supply effects on a co-production demand-driven wood remanufacturing mill with alternative processes
• Economic evaluation of biotechnological progress: the effect of changing management behavior

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