@article{Jacobsen:197901,
      recid = {197901},
      author = {Jacobsen, Jette Bredhal},
      title = {A two-option Approach to Solving the Decision problem of  Regeneration},
      journal = {Scandinavian Forest Economics: Proceedings of the Biennial  Meeting of the Scandinavian Society of Forest Economics},
      address = {2004-05},
      number = {1329-2016-103654},
      pages = {11},
      year = {2004},
      abstract = {Real option theory  has for some decades been used in  forest economics to analyse decision problems which involve  irreversible and stochastic decisions.  One such decision  is when to harvest a stand and with what species to  regenerate. The latter decision can be postponed for some  time, making a species change possible if favoured by the  value development or if regeneration of the present species  is unsuccessful.  This problem is analysed here as  extension of the traditional two-option problem, by  involving several stochastic elements.},
      url = {http://ageconsearch.umn.edu/record/197901},
      doi = {https://doi.org/10.22004/ag.econ.197901},
}