Document Type

Working Paper

Date of This Version

1-1-2007

Abstract

The traditional question of optimally deciding when to cut down a tree is among the most commonly posed questions asked of students learning the technique of dynamic programming. This paper shows that the traditional tree-cutting example is improperly formulated when the question of replanting is addressed, derives the proper method of finding optimal harvest length, and applies this method to an empirical forest growth function.

Working Paper Number

0701

Included in

Economics Commons

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