Financial optimization of the forest property management under conditions of salvage cuttings risk
1999
Holecy, J. (Technicka Univ., Zvolen (Slovak Republic). Lesnicka Fakulta)
The paper demonstrates how linear programming technique together with some results provided by the theory of Markov processes can be used to specify the financial optimum pattern of harvests from an irregular forest during the period of its conversion to sustained yield. The deterministic and the stochastic models are compared. Both the models are exercised on the example of possible develpment of the spruce even-aged forest. The problem of calculation of the present value of the expected net perpetual annual income under conditions of risk is also solved.
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