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Communication Dans Un Congrès Année : 2008

Multi-stand forest management under a climatic risk: do time and risk preferences matter?

Résumé

We propose a stochastic dynamic framework to model the management of a multi-stand forest under climate risk(strong wind occurrence). The preferences of the forest-owner are specified by a non-expected utility in order to separately analyse intertemporal substitution and risk aversion effects. A numerical method is developed to characterize the optimal forest management policies and the optimal consumption-saving strategy. The stochastic dynamic programming framework is applied to a non-industrial private forest-owner located in the North-East of France. We show that the optimal decisions both depend upon risk and time preference.
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Dates et versions

hal-01072369 , version 1 (06-06-2020)

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Stéphane Couture, Arnaud Reynaud. Multi-stand forest management under a climatic risk: do time and risk preferences matter?. 3. World congress of Environmental and Resource Economists, Jul 2006, Kyoto, Japan. ⟨10.1007/s10666-007-9121-7⟩. ⟨hal-01072369⟩
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