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Public Land Policy And The Value Of Grazing Permits

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Author Info
Torell, L. Allen
Doll, John P.
Abstract

This article provides an empirical test of the traditional theory of permit value and investigates the impact of recent changes in public land policies on the value of grazing permits. Results suggest that the cost advantage for grazing on public lands has been capitalized into substantial permit values, but other economic and hedonic factors influencing land prices also have contributed to the value of grazing permits. Public land grazing permits have fallen in value relative to deeded land as grazing fees have increased and as assurance has waned that public land policies will continue to be favorable to ranchers.

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File URL: http://purl.umn.edu/32630
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Publisher Info
Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

Volume (Year): 16 (1991)
Issue (Month): 01 (July)
Pages:
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Handle: RePEc:ags:wjagec:32630

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Related research
Keywords: Land Economics/Use;

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  1. Anderson, David P. & Mintert, James & Brester, Gary, 1998. "The North American Livestock Industry: A U.S. Perspective," Economic Harmonization in the Canadian\U.S.\Mexican Grain-Livestock Subsector; Proceedings of the 4th Agricultural and Food Policy Systems... 1998 16765, Farm Foundation, Agricultural and Food Policy Systems Information Workshops. [Downloadable!]
  2. McLeod, Donald M. & Bastian, Chris T. & Germino, Matthew J. & Reiners, William A. & Blasko, Benedict J., 1999. "The Contribution Of Environmental Amenities To Agricultural Land Values: Hedonic Modelling Using Geographic Information Systems Data," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35707, Western Agricultural Economics Association. [Downloadable!]
  3. Ronald W. Spahr & Mark A. Sunderman, 1995. "Additional Evidence on the Homogeneity of the Value of Government Grazing Leases and Changing Attributes for Ranch Values," Journal of Real Estate Research, American Real Estate Society, vol. 10(5), pages 601-616. [Downloadable!]
  4. Torell, L. Allen & Rimbey, Neil R. & Ramirez, Octavio A. & McCollum, Daniel W., 2005. "Income Earning Potential versus Consumptive Amenities in Determining Ranchland Values," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 30(03), December. [Downloadable!]
  5. Ronald W. Spahr & Mark A. Sunderman, 1999. "Valuation of Property Surrounding a Resort Community," Journal of Real Estate Research, American Real Estate Society, vol. 17(2), pages 227-244. [Downloadable!]
  6. Mark A. Sunderman & Ronald W. Spahr, 1994. "The Valuation of Undeveloped Land: A Reconciliation of Methods," Journal of Real Estate Research, American Real Estate Society, vol. 9(2), pages 179-196. [Downloadable!]
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This page was last updated on 2009-12-11.

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