Multi-stand Forest Management under a Climatic Risk: Do Time and Risk Preferences Matter? View Full Text


Ontology type: schema:ScholarlyArticle     


Article Info

DATE

2008-05

AUTHORS

Stéphane Couture, Arnaud Reynaud

ABSTRACT

We propose a stochastic dynamic programming framework to model the management of a multi-stand forest under climate risk (strong wind occurrence). The preferences of the forest-owner are specified by a non-expected utility in order to separately analyze intertemporal substitution and risk aversion effects. A numerical method is developed to characterize the optimal forest management policies and the optimal consumption-saving strategy. The stochastic dynamic programming framework is applied to a non-industrial private forest-owner located in North-East of France. We show that the optimal decisions both depend upon risk and time preferences. More... »

PAGES

181-193

References to SciGraph publications

Journal

TITLE

Environmental Modeling & Assessment

ISSUE

2

VOLUME

13

Author Affiliations

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/s10666-007-9121-7

DOI

http://dx.doi.org/10.1007/s10666-007-9121-7

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1036694440


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