Harvesting a renewable resource under uncertainty

DOI10.1016/S0165-1889(03)00033-2zbMath1179.91205OpenAlexW2060189719MaRDI QIDQ951478

Jean-Daniel M. Saphores

Publication date: 24 October 2008

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

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

zbMATH Keywords

uncertaintyextinctionreal optionsirreversibilityrenewable resources

Mathematics Subject Classification ID

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

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Cites Work

• The tree-cutting problem in a stochastic environment: The case of age- dependent growth
• The stochastic rotation problem: A generalization of Faustmann's formula to stochastic forest growth
• Harvest Decisions and Asset Valuation for Biological Resources Exhibiting Size-Dependent Stochastic Growth
• The stochastic rotation problem: A comment
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