Integrating risk preferences in forest harvest scheduling

@article{Eyvindson2015IntegratingRP,
  title={Integrating risk preferences in forest harvest scheduling},
  author={Kyle Eyvindson and Annika Kangas},
  journal={Annals of Forest Science},
  year={2015},
  volume={73},
  pages={321-330}
}
Through a stochastic programming framework, risk preferences can be included in forest planning. The value of utilizing stochastic programming is always positive; however, the value depends on the information quality and risk preferences of the decision maker. Harvest scheduling requires decisions be taken based on imperfect information and assumptions regarding the future state of the forest and markets. The aim of this study is to incorporate elements of risk management into forest management… CONTINUE READING
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