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A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of...
Persistent link: https://www.econbiz.de/10014134038
A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of...
Persistent link: https://www.econbiz.de/10014120971
uncertainty in a multi-period model. In this paper, I extend parts of this literature. First, I use the theory of optimal stopping …
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