Batabyal, Amitrajeet A. - Department of Applied Economics, Utah State University - 1996
In this paper I focus on some important biological aspects of the forest management problem. I model a stochastically … developing forest as a multidimensional, continuous-time Markov chain. Next, I pose three questions concerning the long …-run characteristics of a stationary forest, the stochastic process followed by dying species, and the age of an arbitrary species in the …