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Fig. 1 | Annals of Forest Science

Fig. 1

From: A non-stochastic portfolio model for optimizing the transformation of an even-aged forest stand to continuous cover forestry when information about return fluctuation is incomplete

Fig. 1

Forest management portfolios, composed of Norway spruce (Sp) and European beech (Be), forming the efficient frontier in a mean-variance optimization. Provided are maximal average annual payments for a certain standard deviation (S A ). Standard deviations correspond to the uncertainty space sizes from the non-stochastic optimization. As some of the uncertainty space sizes result in very similar standard deviation, rounded standard deviations occur as duplicates

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Annals of Forest Science

ISSN: 1297-966X