Related papers: Optimal forest rotation age under efficient climat…
Forests will have two notable economic roles in the future: providing renewable raw material and storing carbon to mitigate climate change. The pricing of forest carbon leads to longer rotation times and consequently larger carbon stocks,…
Facing the drastic climate changes, current strategies for enhancing carbon dioxide stocks need to be thoroughly honed. To address the problem, we first built a carbon sequestration growth model driven by growth rate dependency (GRDM). We…
This paper investigates the dynamics and optimal harvesting of age-structured populations governed by McKendrick--von Foerster equations, contrasting two distinct harvesting mechanisms: rate-control and effort-control. For the rate-control…
A recent Douglas fir management investigation is repeated in terms of accounting measures. The rotation times become much shorter than in earlier results. Thinnings do not become feasible, provided the thinning effects on the volumetric…
We analyze the harvesting and stocking of a population that is affected by random and seasonal environmental fluctuations. The main novelty comes from having three layers of environmental fluctuations. The first layer is due to the…
A shift from even-aged forest management to uneven-aged management practices leads to a problem rather different from the existing straightforward practice that follows a rotation cycle of artificial regeneration, thinning of inferior trees…
Nitrogen fertilization of boreal forests is investigated in terms of microeconomics, as a tool for carbon sequestration. The effects of nitrogen fertilization's timing on the return rate on capital and the expected value of the timber stock…
This paper examines the objective of optimally harvesting a single species in a stochastic environment. This problem has previously been analyzed in Alvarez (2000) using dynamic programming techniques and, due to the natural payoff…
This paper investigates the optimal harvesting strategy for a single species living in random environments whose growth is given by a regime-switching diffusion. Harvesting acts as a (stochastic) control on the size of the population. The…
How should nations price carbon? This paper examines how the treatment of global inequality, captured by regional welfare weights, affects optimal carbon prices. I develop theory to identify the conditions under which accounting for…
Along with the accumulation of atmospheric carbon dioxide, the loss of primary forests and other natural ecosystems is a major disruption of the Earth system causing global concern. Quantifying planetary warming from carbon emissions,…
Ecological systems are dynamic and policies to manage them need to respond to that variation. However, policy adjustments will sometimes be costly, which means that fine-tuning a policy to track variability in the environment very tightly…
The fossil-fuel induced contribution to further warming over the 21st century will be determined largely by integrated CO2 emissions over time rather than the precise timing of the emissions, with a relation of near-proportionality between…
The mitigation of climate change requires a fundamental transition of the energy system. Affordability, reliability and the reduction of greenhouse gas emissions constitute central but often conflicting targets for this energy transition.…
Energy technologies emitting differing proportions of methane and carbon dioxide vary in their relative climate impacts over time, due to the different atmospheric lifetimes of the two gases. Standard technology comparisons using the global…
Achieving net-zero carbon emissions requires a transformation of energy systems, industrial processes, and consumption patterns. In particular, a transition towards that goal involves a gradual reduction of excess carbon emissions that are…
This paper examines the retirement decision, optimal investment, and consumption strategies under an age-dependent force of mortality. We formulate the optimization problem as a combined stochastic control and optimal stopping problem with…
In short, our experiments suggest that yes, on average, rotation forest is better than the most common alternatives when all the attributes are real-valued. Rotation forest is a tree based ensemble that performs transforms on subsets of…
In this paper, I consider a simple heterogeneous agents model of a production economy with uncertain climate change and examine constrained efficient carbon taxation. If there are frictionless, complete financial markets, the simple model…
Probability theory is applied for the effect of severe disturbances on the return rate on capital within multiannual stands growing crops. Two management regimes are discussed, rotations of even-aged plants on the one hand, and uneven-aged…