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Applications of Distributed Optimal Control in Economics-The Case of Forest Management

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Abstract

This paper presents a theoretical model to find the optimal selective-logging regime of a size-distributed forest. The law of motion of the economic model is governed by a partial differential equation that describes the evolution of the forest stock over time. To find the solution of the resulting distributed optimal control problem, we propose a numerical solution technique known as "Escalator Boxcar Train" used in Biology, for the study of dynamics of physiologically structured populations. The empirical part of the paper determines the optimal selective-logging regime of a size-distributed forest, that is, the selective logging that maximizes the discounted net benefits from timber production of a stand of pinus sylvestris, over an infinite time horizon, and compares the selective logging with the clear-cutting regime.

Suggested Citation

  • Renan Goetz & Angels Xabadia, 2003. "Applications of Distributed Optimal Control in Economics-The Case of Forest Management," Economic Working Papers at Centro de Estudios Andaluces E2003/37, Centro de Estudios Andaluces.
  • Handle: RePEc:cea:doctra:e2003_37
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    Keywords

    Distributed optimal control; diameter-distributed forest; Escalator Boxcar Train.;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry

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