Table 5 Management policy that maximizes the net present value of harvested wood, depending on stand state and price level
From: Adaptive economic and ecological forest management under risk
Stand state # | Stand composition 1 | Price | ||
|---|---|---|---|---|
Low | Medium | High | ||
Best decision 2 | ||||
1 | 000,000 | – | – | – |
2 | 000,001 | 1 | 1 | 1 |
3 | 000,010 | – | – | 1 |
4 | 000,011 | 3 | 3 | 1 |
5 | 000,100 | 1 | 1 | 1 |
6 | 000,101 | 1 | 1 | 1 |
7 | 000,110 | 3 | 3 | 1 |
8 | 000,111 | 3 | 3 | 1 |
9 | 001,000 | 1 | 1 | 1 |
10 | 001,001 | 1 | 1 | 1 |
11 | 001,010 | 3 | 3 | 1 |
12 | 001,011 | 3 | 3 | 1 |
13 | 001,100 | 1 | 1 | 1 |
14 | 001,101 | 1 | 1 | 1 |
15 | 001,110 | 3 | 3 | 1 |
16 | 001,111 | 3 | 3 | 1 |
17 | 010,000 | 1 | 1 | 1 |
18 | 010,001 | 1 | 1 | 1 |
19 | 010,010 | 3 | 3 | 1 |
20 | 010,011 | 3 | 3 | 1 |
21 | 010,100 | – | 1 | 1 |
22 | 010,101 | 21 | 1 | 1 |
23 | 010,110 | 3 | 3 | 1 |
24 | 010,111 | 3 | 3 | 1 |
25 | 011,000 | 1 | 1 | 1 |
26 | 011,001 | 1 | 1 | 1 |
27 | 011,010 | 3 | 3 | 1 |
28 | 011,011 | 3 | 3 | 1 |
29 | 011,100 | 21 | 1 | 1 |
30 | 011,101 | 21 | 1 | 1 |
31 | 011,110 | 3 | 3 | 1 |
32 | 011,111 | 3 | 3 | 1 |
33 | 100,000 | 1 | 1 | 1 |
34 | 100,001 | 1 | 1 | 1 |
35 | 100,010 | 3 | 3 | 1 |
36 | 100,011 | – | 3 | 1 |
37 | 100,100 | 1 | 1 | 1 |
38 | 100,101 | 1 | 1 | 1 |
39 | 100,110 | 3 | 3 | 1 |
40 | 100,111 | 36 | 3 | 1 |
41 | 101,000 | 1 | 1 | 1 |
42 | 101,001 | 1 | 1 | 1 |
43 | 101,010 | 3 | 3 | 1 |
44 | 101,011 | 36 | 3 | 1 |
45 | 101,100 | 1 | 1 | 1 |
46 | 101,101 | 1 | 1 | 1 |
47 | 101,110 | 3 | 3 | 1 |
48 | 101,111 | 36 | 3 | 1 |
49 | 110,000 | 1 | 1 | 1 |
50 | 110,001 | 1 | 1 | 1 |
51 | 110,010 | 3 | 3 | 1 |
52 | 110,011 | – | 3 | 1 |
53 | 110,100 | 21 | 1 | 1 |
54 | 110,101 | 21 | 1 | 1 |
55 | 110,110 | 3 | 3 | 1 |
56 | 110111 | 52 | 3 | 1 |
57 | 111,000 | 1 | 1 | 1 |
58 | 111,001 | 1 | 1 | 1 |
59 | 111,010 | 3 | 3 | 1 |
60 | 111,011 | 52 | 3 | 1 |
61 | 111,100 | 21 | 1 | 1 |
62 | 111,101 | 21 | 1 | 1 |
63 | 111,110 | 3 | 3 | 1 |
64 | 111,111 | 52 | 3 | 1 |