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Determination of optimal rotation period under stochastic wood and carbon prices

  • Chladna, Zuzana
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    File URL: http://www.sciencedirect.com/science/article/B6VT4-4MBJY95-1/2/58623da0b3aa8f55215a8eea0f210c98
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    Article provided by Elsevier in its journal Forest Policy and Economics.

    Volume (Year): 9 (2007)
    Issue (Month): 8 (May)
    Pages: 1031-1045

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    Handle: RePEc:eee:forpol:v:9:y:2007:i:8:p:1031-1045
    Contact details of provider: Web page: http://www.elsevier.com/locate/forpol

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    1. Binkley, Clark S. & Brand, David & Harkin, Zoe & Bull, Gary & Ravindranath, N. H. & Obersteiner, Michael & Nilsson, Sten & Yamagata, Yoshiki & Krott, Max, 2002. "Carbon sink by the forest sector--options and needs for implementation," Forest Policy and Economics, Elsevier, vol. 4(1), pages 65-77, May.
    2. Luis H. R. Alvarez & Erkki Koskela, 2004. "Does Risk Aversion Accelerate Optimal Forest Rotation under Uncertainty?," CESifo Working Paper Series 1285, CESifo Group Munich.
    3. David Appels, 2001. "Forest rotation lengths under carbon sequestration payments," Others 0110007, EconWPA.
    4. Newman, D.H., 2002. "Forestry's golden rule and the development of the optimal forest rotation literature," Journal of Forest Economics, Elsevier, vol. 8(1), pages 5-27.
    5. Sedjo, Roger, 2001. "Forest Carbon Sequestration: Some Issues for Forest Investments," Discussion Papers dp-01-34, Resources For the Future.
    6. Saphores, Jean-Daniel, 2003. "Harvesting a renewable resource under uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 28(3), pages 509-529, December.
    7. Willassen, Yngve, 1998. "The stochastic rotation problem: A generalization of Faustmann's formula to stochastic forest growth," Journal of Economic Dynamics and Control, Elsevier, vol. 22(4), pages 573-596, April.
    8. Insley, Margaret, 2002. "A Real Options Approach to the Valuation of a Forestry Investment," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 471-492, November.
    9. Morck, Randall & Schwartz, Eduardo & Stangeland, David, 1989. "The Valuation of Forestry Resources under Stochastic Prices and Inventories," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 24(04), pages 473-487, December.
    10. Merton, Robert C, 1973. "An Intertemporal Capital Asset Pricing Model," Econometrica, Econometric Society, vol. 41(5), pages 867-87, September.
    11. Alvarez, Luis H.R. & Koskela, Erkki, 2007. "Optimal harvesting under resource stock and price uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 31(7), pages 2461-2485, July.
    12. Benitez, Pablo C. & Obersteiner, Michael, 2006. "Site identification for carbon sequestration in Latin America: A grid-based economic approach," Forest Policy and Economics, Elsevier, vol. 8(6), pages 636-651, August.
    13. Thomas A. Thomson, 1992. "Optimal Forest Rotation When Stumpage Prices Follow a Diffusion Process," Land Economics, University of Wisconsin Press, vol. 68(3), pages 329-342.
    14. Miller, Robert A. & Voltaire, Karl, 1983. "A stochastic analysis of the tree paradigm," Journal of Economic Dynamics and Control, Elsevier, vol. 6(1), pages 371-386, September.
    15. Lu, Fadian & Gong, Peichen & Lu, Fadian, 2003. "Optimal stocking level and final harvest age with stochastic prices," Journal of Forest Economics, Elsevier, vol. 9(2), pages 119-136.
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