A DYNAMIC AND STOCHASTIC PERSPECTIVE ON THE ROLE OF TIME IN RANGE MANAGEMENT

Amitrajeet Batabyal, Basudeb Biswas () and E. Godfrey ()

No 22149, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This chapter uses a new ecological-economic approach to analyze the role of time in range management in a dynamic and stochastic setting. We first construct a theoretical model of a parcel of rangeland in which time restrictions are used to manage the land. We then show how the dynamic and the stochastic properties of this rangeland can be used to construct two managerial objectives that are ecologically and economically meaningful. Finally, using these two objectives, we discuss an approach to range management in which the manager has two interrelated goals. This manager maximizes the profits from range operations and (s)he also takes steps to move the rangeland away from the least desirable state of existence.

Keywords: Land Economics/Use; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 28
Date: 2003
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:22149

DOI: 10.22004/ag.econ.22149

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