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Silva Fennica 1926-1997
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Acta Forestalia Fennica
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Articles containing the keyword 'guarantee'

Category : Research article

article id 397, category Research article
Nuutti Kiljunen. (2005). Pricing the risk of the quality-guarantee in a stand establishment service. Silva Fennica vol. 39 no. 1 article id 397. https://doi.org/10.14214/sf.397
Keywords: quality; forest regeneration; risk; guarantee
Abstract | View details | Full text in PDF | Author Info
A stand-establishment service concept with quality guarantee was analysed. Here, the quality of stand establishment was assessed as the density of good quality seedlings evenly distributed on the plantation three years after planting. The amount of adequate premiums for the guarantee service and the risks accumulating to the service provider were studied. Monte Carlo simulation was used as a tool for analyzing the risks accumulating to the service provider of the stand-establishment in operational environments of different sizes. The premiums calculated to cover the expected amount of claims caused by the plantations not meeting the pre-set criteria were about 4–8% in addition to the approximated costs of stand establishment. The criteria used for determining the success or failure in a stand have a marked effect on the amount of premiums with a reasonable risk of ruin.
  • Kiljunen, Finnish Forest Research Institute, Suonenjoki Research Station, Juntintie 154, FI-77600 Suonenjoki, Finland E-mail: nuutti.kiljunen@metla.fi (email)

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