To understand these newly revised concepts, we will use an example from the MDPToolbox package (mdp_example_forest). This example deals with the management problem of a forest stand and has two main objectives:
- The first objective is to maintain an old forest for wildlife.
- The second objective is to earn money by selling the cut wood.
To achieve these objectives, two actions are available: Wait or Cut. An action is decided for each 20-year period and applied at the beginning of the period.
Three states are defined according to three tree age classes:
- state 1: Age group 0-20 years
- state 2: Age group 21-40 years
- state 3: Age group over 40 years
State 3 corresponds to the oldest age class. At the end of a period ...