The Dynamic Behavior of Efficient Timber Prices.
A simple theoretical model of a timber market finds that there exists a rational expectations equilibrium in which prices evolve according to a stationary AR (1) process. Simulations analyze a model with a more general representation of timber stock dynamics. Implications for the optimal harvesting...
| Publicado en: | Land Economics Vol. 80; no. 1; pp. 95 - 109 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
University of Wisconsin Press
February 2004
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |