Long-Run versus Short-Run Planning Horizons and the Rangeland Stocking Rate Decision

L. Allen Torell, Kenneth Lyon and E. Godfrey ()

American Journal of Agricultural Economics, 1991, vol. 73, issue 3, 795-807

Abstract: Reduced future forage production, diminished range condition, and reduced animal performance have been major factors considered when setting rangeland stocking rates. The relative economic importance of diminished current period animal performance versus intertemporal forage production impacts was investigated using a dynamic optimal control model. The model is applied to yearling stocker production in eastern Colorado. Results indicate that intertemporal grazing impacts to forage production are not that important; reduced weight gain during the current period drives the economic stocking rate decision. Further, ranchers have no economic incentive as profit maximizers to continually overgraze the range.

Date: 1991
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