Harvest decisions and asset valuation for biological resources exhibiting size-dependent stochastic growth

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dc.contributor.authorReed, William J.
dc.contributor.authorClarke, Harry R.
dc.date.accessioned2009-08-15T00:00:33Z
dc.date.available2009-08-15T00:00:33Z
dc.date.copyright1987en
dc.date.issued2009-08-15T00:00:33Z
dc.description.abstractOptimal harvest rules and pre-harvest valuation procedures for biological assets with stochastic size-dependent growth in a stochastic price environment. These issues are analyzed as continuous-time optimal stopping problems. Both the "single-rotation" and "ongoing rotations" problem are addressed. The sensitivity of harvest and valuation rules is assessed. The results are compared with those derived from a "myopic look-ahead" procedure and with the corresponding findings for age-dependent growth.en
dc.description.sponsorshipNSERC Grant A7252en
dc.identifier.urihttp://hdl.handle.net/1828/1526
dc.language.isoenen
dc.relation.ispartofseriesDM-440-RIen
dc.subjecttree problem
dc.subjectWicksell rule
dc.subjectFaustmann rule
dc.subjectoptimal stopping
dc.subjectdiffusions
dc.subjectmyopic-look-ahead rule
dc.subjecttechnical reports (mathematics and statistics)
dc.subject.departmentDepartment of Mathematics
dc.subject.departmentDepartment of Mathematics and Statistics
dc.titleHarvest decisions and asset valuation for biological resources exhibiting size-dependent stochastic growthen
dc.typeTechnical Reporten

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