An Optimal Control Theory Model to Estimate the Regional Long-Term Supply of Timber
Abstract
Abstract This paper develops and applies a Supply Potential Optimal Control (SPOC) model which examines the potential long-term supply of timber harvests. The model incorporates features that allow it to deal with questions of the economically optimal rate of drawdown of existing old-growth stands, as well as to project the optimum harvest levels after the transition has been completed and a steady state ensues. An optimal control theory algorithm is used to solve the problem. The model is applied to hypothetical data and the results are presented. Forest Sci. 29:798-812.
Reference
Kenneth S. Lyon; Roger A. Sedjo. (1983). An Optimal Control Theory Model to Estimate the Regional Long-Term Supply of Timber. Forest Science. https://doi.org/10.1093/forestscience/29.4.798
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