Harvesting a renewable resource under uncertainty

DOI10.1016/S0165-1889(03)00033-2MaRDI QIDQ951478zbMATH OpenOpenAlexFDO

Authors Jean-Daniel M. Saphores

Publication date 24 October 2008

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/s0165-1889(03)00033-2

zbMATH Keywords

extinctionirreversibilityreal optionsrenewable resourcesuncertainty

Mathematics Subject Classification ID

Economic growth models (91B62) Stochastic models in economics (91B70) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Corporate finance (dividends, real options, etc.) (91G50)

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Cites work

• Harvest Decisions and Asset Valuation for Biological Resources Exhibiting Size-Dependent Stochastic Growth
• scientific article; zbMATH DE number 3736679 (Why is no real title available?)
• scientific article; zbMATH DE number 47134 (Why is no real title available?)
• The stochastic rotation problem: A comment
• The stochastic rotation problem: A generalization of Faustmann's formula to stochastic forest growth
• The tree-cutting problem in a stochastic environment: The case of age- dependent growth

Cited in

(16)

• Optimal harvesting under resource stock and price uncertainty
• Asset retirement with infinitely repeated alternative replacements: harvest age and species choice in forestry
• The optimal management of renewable resources under the risk of potential regime shift
• Dynamic decentralization of harvesting constraints in the management of tychastic evolution of renewable resources
• Scaling limit for stochastic control problems in population dynamics
• Harvest planning under uncertain extinction time
• scientific article; zbMATH DE number 5873182 (Why is no real title available?)
• Optimal timing of salvage harvest in response to a stochastic infestation
• scientific article; zbMATH DE number 3847294 (Why is no real title available?)
• Harvest Decisions and Asset Valuation for Biological Resources Exhibiting Size-Dependent Stochastic Growth
• The role of spatial scale in the timing of uncertain environmental policy
• ENVIRONMENTAL UNCERTAINTY AND THE TIMING OF ENVIRONMENTAL POLICY
• A dynamic bioeconomic analysis of mountain pine beetle epidemics
• Harvesting and recovery decisions under uncertainty
• Optimizing high-dimensional stochastic forestry \textit{via} reinforcement learning
• Why increased uncertainty may lead to more risky behavior

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