Stochastic Forest Stand Value and Optimal Timber Harvesting

DOI10.1137/S0363012901393456zbMath1069.93041MaRDI QIDQ4652506

Luis H. R. Alvarez

Publication date: 28 February 2005

Published in: SIAM Journal on Control and Optimization (Search for Journal in Brave)

zbMATH Keywords

diffusionsimpulse controloptimal rotationminimal \(r\)-excessive mappingsrecursive optimal stoppingrational forest managementtimber harvesting problem

Mathematics Subject Classification ID

Variational inequalities (49J40) Brownian motion (60J65) Optimal stochastic control (93E20) Stopping times; optimal stopping problems; gambling theory (60G40) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Free boundary problems for PDEs (35R35)

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