Optimal thinning and harvesting with stochastic prices

By R. Brazee, Erwin H. Bulte. 2000

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On the effect of volatile stumpage prices on the economic attractiveness of a silvicultural transformation strategy (2001, result): “By proving volatile stumpage prices as an important source of risk, the results of this paper coincide with those of other studies (for an overview see Brazee and Bulte 2000).”