Olha Nahorna, PhD candidate in SmartForest, just published an article on “Assessing the importance of detailed forest inventory information using stochastic programming” in the Canadian Journal of Forest Research together with Lennart Noordermeer and her supervisors Terje Gobakken and Kyle Eyvindson.
Congratulations to the authors!
In this study, the authors compared the value of information for a selection of airborne laser scanning-based inventory approaches. They used stochastic programming to account for the uncertainty in the data and explored the trade-off between the net present value and conditional value at risk of meeting desired periodic income targets.
The results demonstrated that more precise inventory approaches could guarantee more flexibility to the decision-maker, ensuring good management decisions for multiple goals and preferences.