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...