The forest owner’s decision regarding when to harvest, based on forest’s current worth, is analyzed using the real options approach for a representative Pacific Northwest Douglas-fir stand when the carbon price is stochastic and there is a fire risk. The problem is framed as a...

In the United States, 35% of the forestland is owned by family forest owners with approximately 0.2% of this land reported to be enrolled in a forest certification system. The current study was conducted to provide insights into factors influencing family forest owners’ decisions to certify...

Recent work in the development of stochastic methods for multiple integrals over unbounded regions is reviewed and generalized. This includes randomization or deterministic rules, and new stochastic rules for integrals with multivariate Normal weight. Stochastic spherical–radial rules are also...

We consider an application involving a financial quadratic portfolio of options, when the joint underlying log-returns changes with multivariate elliptic distribution. This motivates the needs for methods for the approximation of multiple integrals over hyperboloids. A transformation is used to...

Water is a multiple use resource. Increasing scarcity and competition from various sectors is an important dimension to be considered in its management. Understanding the value of water to different water uses is, therefore, necessary to assist decision-making in water allocation among sectors....

Income differences attributed to differential access to water in irrigation systems are common. Prior studies of farm-level water use in developing areas have typically been limited to using number of irrigations as a proxy for water use. We develop a volumetric measure in Sri Lanka's Kirindi...