메뉴 건너뛰기




Volumn 31, Issue 7, 2007, Pages 2461-2485

Optimal harvesting under resource stock and price uncertainty

Author keywords

Optimal harvesting; Single and sequential harvesting opportunity; Stochastic price and stock dynamics

Indexed keywords


EID: 34248643768     PISSN: 01651889     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jedc.2006.08.003     Document Type: Article
Times cited : (35)

References (33)
  • 1
    • 77957026226 scopus 로고
    • Consumption and investment
    • Friedman F., and Hahn F. (Eds), North-Holland, New York
    • Abel A.B. Consumption and investment. In: Friedman F., and Hahn F. (Eds). Handbook of Monetary Economics vol. II (1990), North-Holland, New York 725-778
    • (1990) Handbook of Monetary Economics , vol.II , pp. 725-778
    • Abel, A.B.1
  • 2
    • 34248682304 scopus 로고    scopus 로고
    • Abramowitz, M., Stegun, I.A. (Eds.), 1968. Handbook of Mathematical Functions. Dover Publications, New York.
  • 3
    • 0035659919 scopus 로고    scopus 로고
    • Singular stochastic control, linear diffusions, and optimal stopping: a class of solvable problems
    • Alvarez L.H.R. Singular stochastic control, linear diffusions, and optimal stopping: a class of solvable problems. SIAM Journal on Control and Optimization 39 (2001) 1697-1710
    • (2001) SIAM Journal on Control and Optimization , vol.39 , pp. 1697-1710
    • Alvarez, L.H.R.1
  • 4
    • 10244250464 scopus 로고    scopus 로고
    • Stochastic forest stand value and optimal timber harvesting
    • Alvarez L.H.R. Stochastic forest stand value and optimal timber harvesting. SIAM Journal on Control and Optimization 42 (2004) 1972-1993
    • (2004) SIAM Journal on Control and Optimization , vol.42 , pp. 1972-1993
    • Alvarez, L.H.R.1
  • 5
    • 34248666292 scopus 로고    scopus 로고
    • Alvarez, L.H.R., Koskela, E., 2004. Taxation and rotation age under stochastic forest stand value. CESifo Working Paper, No. 1211.
  • 6
    • 13644274493 scopus 로고    scopus 로고
    • Wicksellian theory of forest rotation under interest rate variability
    • Alvarez L.H.R., and Koskela E. Wicksellian theory of forest rotation under interest rate variability. Journal of Economic Dynamics and Control 29 (2005) 529-545
    • (2005) Journal of Economic Dynamics and Control , vol.29 , pp. 529-545
    • Alvarez, L.H.R.1    Koskela, E.2
  • 7
    • 85124683916 scopus 로고    scopus 로고
    • Alvarez, L.H.R., Koskela, E., 2006. Does risk aversion accelerate optimal forest rotation under uncertainty? Journal of Forest Economics, forthcoming.
  • 8
    • 0000121733 scopus 로고    scopus 로고
    • Optimal harvesting of stochastically fluctuating populations
    • Alvarez L.H.R., and Shepp L.A. Optimal harvesting of stochastically fluctuating populations. Journal of Mathematical Biology 37 (1998) 155-177
    • (1998) Journal of Mathematical Biology , vol.37 , pp. 155-177
    • Alvarez, L.H.R.1    Shepp, L.A.2
  • 9
    • 22644445941 scopus 로고    scopus 로고
    • A class of solvable stochastic dividend optimization problems: on the general impact of flexibility on valuation
    • Alvarez L.H.R., and Virtanen J. A class of solvable stochastic dividend optimization problems: on the general impact of flexibility on valuation. Economic Theory 28 (2006) 373-398
    • (2006) Economic Theory , vol.28 , pp. 373-398
    • Alvarez, L.H.R.1    Virtanen, J.2
  • 13
    • 77956767363 scopus 로고    scopus 로고
    • Caballero, R.J., 1999. Aggregate investment. In: Taylor, J.P., Woodford, M. (Eds.), Handbook of Macroeconomics, vol. 1B, pp. 813-862.
  • 18
    • 0036827580 scopus 로고    scopus 로고
    • Real options approach to the valuation of a forestry investment
    • Insley M.A. Real options approach to the valuation of a forestry investment. Journal of Environmental Economics and Management 44 (2002) 471-492
    • (2002) Journal of Environmental Economics and Management , vol.44 , pp. 471-492
    • Insley, M.A.1
  • 19
    • 23644440650 scopus 로고    scopus 로고
    • On solving the multirotational timber harvesting problem with stochastic prices: a linear complementarity formulation
    • Insley M.C., and Rollins K. On solving the multirotational timber harvesting problem with stochastic prices: a linear complementarity formulation. American Journal of Agricultural Economics 87 (2005) 735-755
    • (2005) American Journal of Agricultural Economics , vol.87 , pp. 735-755
    • Insley, M.C.1    Rollins, K.2
  • 21
    • 0030807378 scopus 로고    scopus 로고
    • Optimal harvesting from a population in a stochastic crowded environment
    • Lungu E.M., and Øksendal B. Optimal harvesting from a population in a stochastic crowded environment. Mathematical Biosciences 145 (1997) 47-75
    • (1997) Mathematical Biosciences , vol.145 , pp. 47-75
    • Lungu, E.M.1    Øksendal, B.2
  • 22
    • 0346341329 scopus 로고    scopus 로고
    • Optimal harvesting from interacting populations in a stochastic environment
    • Lungu E.M., and Øksendal B. Optimal harvesting from interacting populations in a stochastic environment. BERNOULLI 7 (2001) 527-539
    • (2001) BERNOULLI , vol.7 , pp. 527-539
    • Lungu, E.M.1    Øksendal, B.2
  • 24
    • 0000998639 scopus 로고
    • Uncertainty in the theory of renewable resource markets
    • Pindyck R.S. Uncertainty in the theory of renewable resource markets. Review of Economic Studies. 51 (1984) 289-303
    • (1984) Review of Economic Studies. , vol.51 , pp. 289-303
    • Pindyck, R.S.1
  • 25
    • 0034234050 scopus 로고    scopus 로고
    • Irreversibilities and the timing of environmental policy
    • Pindyck R.S. Irreversibilities and the timing of environmental policy. Resource and Energy Economics 22 (2000) 233-259
    • (2000) Resource and Energy Economics , vol.22 , pp. 233-259
    • Pindyck, R.S.1
  • 26
    • 0036104837 scopus 로고    scopus 로고
    • Optimal timing problems in environmental economics
    • Pindyck R.S. Optimal timing problems in environmental economics. Journal of Economic Dynamics and Control 26 (2002) 1677-1697
    • (2002) Journal of Economic Dynamics and Control , vol.26 , pp. 1677-1697
    • Pindyck, R.S.1
  • 27
    • 0032073604 scopus 로고    scopus 로고
    • The optimal timber rotation: an option value approach
    • Plantinga A.J. The optimal timber rotation: an option value approach. Forest Science 44 (1998) 192-202
    • (1998) Forest Science , vol.44 , pp. 192-202
    • Plantinga, A.J.1
  • 28
    • 0037534147 scopus 로고    scopus 로고
    • Evaluation of U.S. southern price stumpage market information efficiency
    • Prestemon J.F. Evaluation of U.S. southern price stumpage market information efficiency. Canadian Journal of Forest Research 33 (2003) 561-572
    • (2003) Canadian Journal of Forest Research , vol.33 , pp. 561-572
    • Prestemon, J.F.1
  • 29
    • 0000537441 scopus 로고
    • Harvest decisions and asset valuations for biological resources exhibiting size-dependent stochastic growth
    • Reed W.J., and Clarke H.R. Harvest decisions and asset valuations for biological resources exhibiting size-dependent stochastic growth. International Economic Review 31 (1990) 147-169
    • (1990) International Economic Review , vol.31 , pp. 147-169
    • Reed, W.J.1    Clarke, H.R.2
  • 32
    • 0000963630 scopus 로고
    • Optimal forest rotation when stumpage prices follow a diffusion process
    • Thomson T.A. Optimal forest rotation when stumpage prices follow a diffusion process. Land Economics 68 (1992) 329-342
    • (1992) Land Economics , vol.68 , pp. 329-342
    • Thomson, T.A.1
  • 33
    • 0032040672 scopus 로고    scopus 로고
    • The stochastic rotation problem: a generalization of Faustmann's formula to stochastic forest growth
    • Willassen Y. The stochastic rotation problem: a generalization of Faustmann's formula to stochastic forest growth. Journal of Economic Dynamics and Control 22 (1998) 573-596
    • (1998) Journal of Economic Dynamics and Control , vol.22 , pp. 573-596
    • Willassen, Y.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.