Context This review paper provides an overview of approaches to which we may resort for
handling the complex decision problems involving uncertainty and risk that climate change …

Several parametric and non-parametric approaches have been developed to value financial
assets. Yet, financial valuation techniques have only slowly percolated into disciplines …

This book is organized around a presentation of historical and classic core models that
every serious student or researcher of forest economics must know. These models, along …

The theory of real options is used to model the optimal tree harvesting decision. The value of
the option to harvest is estimated using a dynamic programming approach and a general …

Adapting the management of forest resources to climate change involves addressing
several crucial aspects to provide a valid basis for decision making. These include the …

Discounted cash flow analysis, including net present value is an established way to value
land use and management investments which accounts for the time-value of money …

This article develops a two‐factor real options model of the harvesting decision over infinite
rotations assuming a known stochastic price process and using a rigorous Hamilton‐Jacobi …

In this paper, a discussion of the development of the optimal forest rotation literature and an
extensive bibliography is presented. The body of literature has grown at an almost constant …

Developing nations are seeking alternative energy for electricity, and one attractive
alternative is renewable energy. This research analyzes changing investment environment …

In many cases decision-makers apparently do not adapt as fast as expected to changing
economic conditions. This is also the case for the conversion of farm land to short rotation …