IDEAS home Printed from
   My bibliography  Save this article

Stochastic Dynamic Optimization And Rangeland Investment Decisions


  • Lambert, David K.
  • Harris, Thomas R.


One of the most uncertain resources for a western beef cattle ranch is the availability of reliable spring forage. The impact on ranch equity position and income variability of investments in crested wheatgrass seedings designed to stabilize spring forage supplies is examined. Expected ending net worth under stochastic forage production and cattle prices is maximized subject to secondary safety-first objectives. Seedings increase expected ending net worth and increase annual net ranch incomes after plant establishment.

Suggested Citation

  • Lambert, David K. & Harris, Thomas R., 1990. "Stochastic Dynamic Optimization And Rangeland Investment Decisions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(02), December.
  • Handle: RePEc:ags:wjagec:32071

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Fishburn, Peter C, 1977. "Mean-Risk Analysis with Risk Associated with Below-Target Returns," American Economic Review, American Economic Association, vol. 67(2), pages 116-126, March.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Deaton, Brady J. & San, Nu Nu, 1999. "Feasibility Of Integrating Sheep And Crops With Smallholder Rubber Production Systems In Indonesia," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 17(2).
    2. Novak, Frank & Eales, James & Munro, Earl, 1993. "Profitability and Risk of Retained Ownership of Beef Calves," Project Report Series 232371, University of Alberta, Department of Resource Economics and Environmental Sociology.

    More about this item


    Livestock Production/Industries;


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:wjagec:32071. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.