The mitra-wan forestry model: A discrete-time optimal control problem

Leonardo R. Laura-Guarachi, Onésimo Hernández-Lerma

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

© 2015 Wiley Periodicals, Inc. In this paper, we present some new properties of the Mitra-Wan forestry model written as a discrete-time optimal control problem. For this problem, the set of stationary states is characterized. For the optimal long-run management, we consider the following optimality criteria: average optimality, good control policies, bias optimality, and overtaking optimality. We establish relationships between these criteria and show that the value of average optimal policies is constant and equals the value in the optimal stationary state.
Original languageAmerican English
Pages (from-to)152-168
Number of pages135
JournalNatural Resource Modeling
DOIs
StatePublished - 1 Jan 2015
Externally publishedYes

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Forestry
Optimal Control Problem
Optimality
forestry
Discrete-time
Stationary States
Optimality Criteria
Control Policy
Optimal Policy
Long-run
Model
policy

Cite this

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The mitra-wan forestry model: A discrete-time optimal control problem. / Laura-Guarachi, Leonardo R.; Hernández-Lerma, Onésimo.

In: Natural Resource Modeling, 01.01.2015, p. 152-168.

Research output: Contribution to journalArticle

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