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Using seasonal stochastic dynamic programming to identify optimal management decisions that achieve maximum economic sustainable yields from grasslands under climate risk

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  • Behrendt, Karl
  • Cacho, Oscar
  • Scott, James M.
  • Jones, Randall

Abstract

There are significant challenges in managing the trade-offs between the production of pastures and grazing livestock for profit in the short term, and the persistence of the pasture resource in the longer term under stochastic climatic conditions. The profitability of using technologies such as grazing management, fertiliser inputs and the renovation of pastures are all influenced by complex inter-temporal relations that need to be considered to provide suitable information for managers to enhance tactical and strategic decision making.

Suggested Citation

  • Behrendt, Karl & Cacho, Oscar & Scott, James M. & Jones, Randall, 2016. "Using seasonal stochastic dynamic programming to identify optimal management decisions that achieve maximum economic sustainable yields from grasslands under climate risk," Agricultural Systems, Elsevier, vol. 145(C), pages 13-23.
    • Handle: RePEc:eee:agisys:v:145:y:2016:i:c:p:13-23
    DOI: 10.1016/j.agsy.2016.03.001
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    Cited by:

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    2. Behrendt, Karl & Brown, Colin & Qiao, Guanghua & Zhang, Bao, 2022. "Assessing the opportunity costs of Chinese herder compliance with a payment for environmental services scheme," Ecological Economics, Elsevier, vol. 193(C).
    3. Luz Maria Castro & Fabian Härtl & Santiago Ochoa & Baltazar Calvas & Leonardo Izquierdo & Thomas Knoke, 2018. "Integrated bio-economic models as tools to support land-use decision making: a review of potential and limitations," Journal of Bioeconomics, Springer, vol. 20(2), pages 183-211, July.

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