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Optimal sequential forestry decisions under risk

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  • Peter Lohmander

Abstract

This paper is a summary of central and typical concepts, ideas and results in the field of sequential optimization and stochastic phenomena in forestry. The sequential optimization methods can be applied to all forestry decisions. The text covers forestry decisions and forest economics issues that are based on sequential decision making. An illustration covers optimal decisions in the presence of stochastic market prices. Stochastic (and/or deterministic but for different reasons unpredictable) changes in the economic and physical environments can be considered in decision making over time as soon as they are revealed. For this reason, the information and decision processes are sequential. Copyright Kluwer Academic Publishers 2000

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  • Peter Lohmander, 2000. "Optimal sequential forestry decisions under risk," Annals of Operations Research, Springer, vol. 95(1), pages 217-228, January.
    • Handle: RePEc:spr:annopr:v:95:y:2000:i:1:p:217-228:10.1023/a:1018918627946
    DOI: 10.1023/A:1018918627946
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    Citations

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    Cited by:

    1. Susaeta, Andres & Chang, Sun Joseph & Carter, Douglas R. & Lal, Pankaj, 2014. "Economics of carbon sequestration under fluctuating economic environment, forest management and technological changes: An application to forest stands in the southern United States," Journal of Forest Economics, Elsevier, vol. 20(1), pages 47-64.
    2. Stanislav Petrasek & John Perez-Garcia & B. Bare, 2015. "Valuing forestlands with stochastic timber and carbon prices," Annals of Operations Research, Springer, vol. 232(1), pages 217-234, September.
    3. Soleiman MOHAMMADI LIMAEI & Peter LOHMANDER & Leif OLSSON, 2017. "Dynamic growth models for continuous cover multi-species forestry in Iranian Caspian forests," Journal of Forest Science, Czech Academy of Agricultural Sciences, vol. 63(11), pages 519-529.
    4. Marielle Brunette, 2011. "Une application du Processus de Décision de Markov au secteur forestier : risque de production, de prix et perte de qualité," Post-Print hal-01000606, HAL.
    5. Bernetti, Iacopo & Ciampi, Christian & Fagarazzi, Claudio & Sacchelli, Sandro, 2011. "The evaluation of forest crop damages due to climate change. An application of Dempster-Shafer method," Journal of Forest Economics, Elsevier, vol. 17(3), pages 285-297, August.
    6. Olsson, Leif, 2005. "Road investment scenarios in Northern Sweden," Forest Policy and Economics, Elsevier, vol. 7(4), pages 615-623, May.
    7. Marielle Brunette & Stéphane Couture & Jacques-Alexandre Laye, 2012. "Optimizing forest management under dependent price and production risks: a Markov decision process approach," Post-Print hal-01072291, HAL.
    8. Adriana Piazza & Bernardo Pagnoncelli, 2014. "The optimal harvesting problem under price uncertainty," Annals of Operations Research, Springer, vol. 217(1), pages 425-445, June.
    9. Lars Sängstuvall & Tomas Lämås & Tomas Nordfjell, 2014. "Application of a primarily deductive framework describing time consumption for hauling of logs to road-side," Annals of Operations Research, Springer, vol. 219(1), pages 477-489, August.

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