| УДК |
Кл.слова (ненормированные):
bounded rationality -- income trajectories -- capital theory -- intertemporal choice -- resource economics
Аннотация: The study presents a theory of utility models based on aspiration levels, as well as the application of this theory to the planning of timber flow economics. The first part of the study comprises a derivation of the utility-theoretic basis for the application of aspiration levels. Two basic models are dealt with: the additive and the multiplicative. The second part of the study introduces a model for the management of timber flows. The model is based on the assumption that the decision-maker is willing to specify a shape of income flow which is different from that of the capital-theoretic optimum. The utility model comprises four aspiration-based compound utility functions. The theory and the flow are tested numerically by computations covering three forest holdings. The resukts show that the additive model is sensistive even to slight changes in relative importances and aspirationa levels
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