Multi-Period Rangeland Investment Analysis with Safety-First constraints and Uncertain Data

David K. Lambart and Thomas R. Harris

No 271157, 1991 Annual Meeting, August 4-7, Manhattan, Kansas from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Impacts of crested wheatgrass seeding investments on ranch equity and income indicators are examined. Expected ending net worth is maximized subject to stochastic forage production and prices using multiperiod nonlinear programming with safety-first income constraints. Seedings are found to be beneficial by stabilizing forage supplies and permitting herd expansion.

Keywords: Agricultural and Food Policy; Land Economics/Use; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 15
Date: 1991-08-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea91:271157

DOI: 10.22004/ag.econ.271157

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