Yousefpour, Rasoul; Didion, Markus; Jacobsen, Jette B.; … - In: Forest Policy and Economics 54 (2015) C, pp. 1-10
We apply Bayesian updating theory to model how decision-makers may gradually learn about climate change and make use of this information in making adaptive forest management decisions. We develop modelling steps to i) simulate observation of a multi-dimensional climate system, ii) apply updating...