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Scientia Silvae Sinicae ›› 1999, Vol. 35 ›› Issue (1): 15-20.

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A TIMBER HARVEST DECISION MODEL ADAPTED FOR TIMBER PRICES

Haijin Shi,Tieying Song   

  1. College of Resource and Environment of Beijing Forestry University Beijing 100083
  • Received:1997-04-16 Online:1999-01-25 Published:1999-01-25

Abstract:

This study is on a timber harest decision problem, in which the timber price are varied as a self-correlation stochastic procedure. The uncertain factors in timber management and their effects are analyzed. An adaptive decision model for final harvest is established. The optimal decision policy which brings highest expected profit for harvest under a given decision period is obtained by the dynamic programming algorithm. The optimal policies under different risk and discount rate are also compared.

Key words: Stochastic decision analysis, Forest management, Final harvest, Adaptive control, Dynamic programming