Addressing Risk in Forest Management Planning

Compared to other production systems, forests are characterized by the long-term of its outcomes (e.g. rotation lengths are high). In this system the state of nature that would prevail after such long periods is not known with certainty. The consequences of a decision depend on many uncontrollable variables which in turn determine the outcome of the decision. Uncertainty and risk are thus closely related to the development of forest management plans.

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