Demand for Grazing on Public Lands: A Disequilibrium Approach
Thomas R. MacDiarmid,
Thomas Harris and
William O. Champney
Authors registered in the RePEc Author Service: Tom Harris
Land Economics, 1996, vol. 72, issue 4, 483-499
A demand function for grazing on western public rangelands is estimated. Since the federal government sets the grazing fee and rations the quantity of Animal Unit Months (AUMs), a disequilibrium market model is developed. The estimate of own-price elasticity of demand (-0.178) suggests a 0.82 percent revenue gain for a 1 percent fee increase. Results show that most western states experienced excess supply of AUMs since the mid-1980s, suggesting a relatively high fee. The levels of demand and effective supply vary substantially across states; this implies that state- or region-specific factors should be incorporated in setting the grazing fee.
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:72:y:1996:i:4:p:483-499
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