The Stochastic Rotation Problem : a Comment

@inproceedings{Sdal2000TheSR,
  title={The Stochastic Rotation Problem : a Comment},
  author={Sigbj\orn S\odal},
  year={2000}
}
  • Sigbjørn Sødal
  • Published 2000
The stochastic Faustmann problem is solved by a simplified approach as compared with the rigorous analysis provided by Willassen (1998). The result is a closed-form rotation formula that simplifies to Faustmann’s formula in the deterministic setting. The formula is discussed for two sets of assumptions: one where the rotation cost is exogenous and fixed, and one where it is endogenous, and to be chosen optimally. JEL classification: D92, D81, Q23. 

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