| 来源类型 | Article |
| 规范类型 | 其他 |
| DOI | 10.1016/j.forpol.2006.09.005 |
| Determination of optimal rotation period under stochastic wood and carbon prices. | |
| Chladna Z | |
| 发表日期 | 2006 |
| 出处 | Forest Policy and Economics 99 (1): 67-71 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | The valuation of forest stands is traditionally based on a profit calculus involving revenue from wood sales and associated costs. Currently, the role of carbon management in forests is actively discussed. In a stochastic setting we extend the analysis of the optimal rotation period by considering uncertain revenue streams from carbon trading. We develop a real options model given uncertainties in future wood and CO2 price behaviour. A detailed sensitivity analysis of the numerical results for both cases - with and without carbon sequestration - is provided. We find that optimal rotation periods vary considerably with (i) the type of price process, (ii) the way how carbon income is defined, and (iii) the selection of discount rates. |
| 主题 | Forestry (FOR) |
| 关键词 | Optimal rotation Carbon sequestration Real options |
| URL | http://pure.iiasa.ac.at/id/eprint/7889/ |
| 来源智库 | International Institute for Applied Systems Analysis (Austria) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/128567 |
| 推荐引用方式 GB/T 7714 | Chladna Z. Determination of optimal rotation period under stochastic wood and carbon prices.. 2006. |
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