Prior Information Reduces the Error in Timber Sale Appraisals
Authors: Burk, Thomas E.; Ek, Alan R.
Source: Northern Journal of Applied Forestry, Volume 4, Number 2, 1 June 1987 , pp. 85-87(3)
Publisher: Society of American Foresters
Abstract:A simple procedure based on empirical Bayesian estimation concepts is presented as a means of reducing the error in timber sale appraisals. An estimator is developed that combines information from previous appraisals of similar sales with the estimate for the subject sale. Examples and guidelines for using the technique along with a description of the basis of the approach are also presented. North. J. Appl. For. 4:85-87, June 1987.
Document Type: Journal Article
Affiliations: Department of Forest Resources, College of Forestry, University of Minnesota, St. Paul 55108
Publication date: June 1, 1987
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