The forest, which has to be managed with the aim to achive the prescribed silvicultural, utilization and environmental goals, is presented as a multistage stochastic process. In order to develop and manage this process, a stochastic model is described. The model is based on the theory of discrete stochastic programming. The objective is to maximize forest outputs which can be quantified. Although we are aware of many other forest benifits we did not include them in the objective function because of their intagibility. On the basis of so defined objective function, the optimal strategy is found by the use of an iterative method similar to Bellman's principle of optimality.
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