A Hybrid Heuristic Algorithm for Harvest Decision of Mixed Species Stand under Price Risk

In this article, a hybrid heuristic algorithm based in Genetic Algorithm and Hooke and Jeeves in described for solving a complicated forest harvest decision problem, which involves optimization of thinning and final felling under price risk for a mixed species stand of spruce and pine. The strategy consists of two optimal stocking level functions and one reservation price function; in which, there are ten variables need to be optimized. The hybrid heuristic algorithm consists of two stages. At the first stage the Hooke and Jeeves is applied to find the optimal solutions using these initial solutions. As the benchmark, a pure Genetic Algorithm, Hook and Jeeves, and Powell search are also tested. Results show that the hybrid heuristic algorithm is the best one among all of the tested algorithm. Genetic Algorithm ranks second, Hooke and Jeeves the third and Powell search is the worst.

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Scandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics
2004, 40
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