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Analysis Of Rangeland Degradation Using Stochastic Dynamic Programming

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  • Passmore, J.G.
  • Brown, Colin G.
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    Abstract

    Degradation of arid rangeland, and efforts to control that degradation, have become topical issues. However, the inherent characteristics of the rangeland, and the intertemporal nature of the problem, complicate the analysis of degradation issues in the search for more appropriate rangeland policies. Stochastic dynamic programming is examined as one means of allowing for those complexities. Using the case of the Queensland mulga rangelands, optimal stocking rates are shown to rise with lower property sizes, higher discount rates, higher wool prices and declining risk aversion. Importantly, the analysis reveals that a strategy of high stocking rates with the potential for rangeland degradation is an optimal response to the economic and social factors that confront graziers and is not an intertemporal information problem alone.

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    File URL: http://purl.umn.edu/22765
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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.

    Volume (Year): 35 (1991)
    Issue (Month): 02 (August)
    Pages:

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    Handle: RePEc:ags:ajaeau:22765

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    Related research

    Keywords: Land Economics/Use;

    References

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    1. McArthur, I.D. & Dillon, John L., 1971. "Risk, Utility And Stocking Rate," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 15(01), April.
    2. David A. King & J. A. Sinden, 1988. "Influence of Soil Conservation on Farm Land Values," Land Economics, University of Wisconsin Press, vol. 64(3), pages 242-255.
    3. Anderson, Jock R. & Griffiths, William E., 1982. "Production Risk And Efficient Allocation Of Resources," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(03), December.
    4. Oscar R. Burt & Ronald G. Cummings, 1977. "Natural Resource Management, the Steady State, and Approximately Optimal Decision Rules," Land Economics, University of Wisconsin Press, vol. 53(1), pages 1-22.
    5. Bardsley, Peter & Harris, Michael, 1987. "An Approach To The Econometric Estimation Of Attitudes To Risk In Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(02), August.
    6. Trapp, James N., 1989. "The Dawning Of The Age Of Dynamic Theory: Its Implications For Agricultural Economics Research And Teaching," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(01), July.
    7. Wang, K.M. & Lindner, Robert K., 1990. "Rehabilitation of Degraded Rangeland Under Optimal Management Decisions," 1990 Conference (34th), February 13-15, 1990, Brisbane, Australia 145452, Australian Agricultural and Resource Economics Society.
    8. I.D. McArthur & John L. Dillon, 1971. "Risk, Utility And Stocking Rate," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 15(1), pages 20-35, 04.
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    Cited by:
    1. Janssen, Marco A. & Anderies, John M. & Walker, Brian H., 2004. "Robust strategies for managing rangelands with multiple stable attractors," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 140-162, January.
    2. Bennett, Jeffrey W., 2005. "Australasian environmental economics: contributions, conflicts and ‘cop-outs’," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), September.
    3. Chisholm, Anthony H., 1992. "Australian Agriculture: A Sustainability Story," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(01), April.

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