In this study, we analyse the economic and managerial aspects of option values related to having a mixed-species stand. As an example, we look at a mixed Norway spruce and Sitka spruce stand in Denmark when timing and intensity of future climate, and its effect on tree growth, are uncertain. Assuming that tree growth follows a discrete non-stationary stochastic process, we use dynamic programming to optimise the harvest distribution between the two species.
The results show that facing growth uncertainty caused by potential climate change implies an option value. Such uncertainty can be a potential advantage as long as we are able to maintain flexibility, keep decisions open, and there is a chance that climatic change will benefit some species. We analyse the model under different uncertainty assumptions and show that the larger changes we expect, the higher is the option value at any time during the stand’s life and, hence, we keep, on average, both tree species in the stand for a longer period of time. Moreover, we find that the adjustments may take place rather late in the rotation, a result brought about by the significance of the option value, which makes it optimal to maintain a reasonable stocking of both species. 相似文献
In the Lower Rio Grande Valley (LRGV) of Texas, cotton regrows and produces fruit from undestroyed stalks throughout the winter, and in spring weevils from such locations become a serious threat. The success of the boll weevil eradication program, which was reintroduced in the LRGV in 2005, will be dependent on thorough stalk destruction following harvest. However, adverse weather conditions and conservation tillage often impede immediate and complete stalk destruction using typical tool implements, and alternative stalk control methods are needed. This study provides an examination of the efficacy for cotton stalk destruction of different herbicides (thifensulfuron-methyl + tribenuron-methyl, dicamba-diolamine, 2,4-D-dimethylammonium, flumioxazin, 2,4-DB-dimethylammonium and carfentrazone-ethyl) and their rates, spray volumes and application timings on shredded or standing cotton stalks after stripper or picker harvest. None of the tested herbicides, except 2,4-D-dimethylammonium, stopped post-harvest cotton regrowth and fruiting. 2,4-D-dimethylammonium sprayed once (0 or 7 days) after cotton was harvested at 1 lb AE acre(-1) (1.12 kg ha(-1)), in a spray volume of 10 gal water acre(-1) (93.5 L ha(-1)) with 5 mL L(-1) surfactant, was highly effective in stalk destruction (72-90%). The best results were achieved when the herbicide was applied immediately after the cotton was shredded, followed by standing stripper-harvested and standing picker-harvested cotton. 2,4-D-dimethylammonium applied twice, 0 and 14 (or 21) days after cotton harvest, was 100% effective in killing stalks, regardless of whether they were shredded or standing, or whether harvest was by stripper or picker. These findings showed that 2,4-D-dimethylammonium cotton stalk destruction eliminated food and reproductive opportunities for managing overwintering boll weevils [Anthonomus grandis grandis Boheman (Coleoptera: Curculionidae)]. 相似文献
The marine life fishing industry in Florida is defined by the state as the non-lethal harvest of marine plants, finfish, and invertebrates that are sold live for commercial purposes (primarily into the saltwater aquarium industry). Approximately 330 different species of finfish and invertebrates are harvested by marine life collectors in Florida, including 180 species of finfish and 150 species of invertebrates and plants. In 1998, the total dockside value of these species was approximately US$1.9 million. The industry is highly regulated via limits on gear, handling methods, harvest sizes, and trip/bag/possession limits. Entry into the industry has been recently curtailed by the implementation of a moratorium on marine life endorsements. The total number of licensed harvesters exceeded 700 in 1998. Approximately 70 wholesales buyers also participated in the market during 1998. The majority of the dockside value is generated in south Florida, with the majority of the remaining value accruing from the region including and north of Tampa Bay. Over 80% of the total value associated with both finfish and invertebrates is generated by only 10 species within each group. Dockside prices vary considerably among the various species landed, with those landed in greater volumes exhibiting the lower prices. 相似文献