On the Elasticities of Harvesting Rules
作者： Fwu-Ranq Chang , Fwu-Ranq Chang
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摘要: In this paper, we rank the relative importance of exogenous parameters upon optimal harvesting size in a stochastic rotation problem. We show that when tree growth follows geometric Brownian motion, is most elastic to cost, followed by interest rate, and least growth. Similar ranking holds for linear case. both cases increasing concave bounded between two parallel lines. The decision made according extension Faustmann formula.
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