New physical constraints emerged in the 20th century and are changing the decision criteria used until now. Two optimisation problems are equivalent: (1) maximising discounted utility with a long-run survival constraint and (2) maximising a new type of utility that treats the present and future...

To tackle the high rate of deforestation in Indonesia's production forests, a new type of licence was introduced in 2004 known as an Ecosystem Restoration Concession (ERC) or IUPHHK-RE by the Indonesian Government. For the first time, production forests could be managed for the purpose of...