Helmes, Kurt L.; Stockbridge, Richard H. - In: Journal of Economic Dynamics and Control 35 (2011) 1, pp. 25-39
This paper analyzes a stochastic forest growth model in which the manager is able to first thin the forest to promote better growth before harvesting. Both Wicksell single thinning and harvesting cycle and Faustmann on-going rotation problems are considered. The Wicksell problem is analyzed by...