Public Land Policy And The Value Of Grazing Permits
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.
Volume (Year): 16 (1991)
Issue (Month): 01 (July)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Allen M. Featherstone & Timothy G. Baker, 1987. "An Examination of Farm Sector Real Asset Dynamics: 1910–85," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(3), pages 532-546.
- Richard W. Dunford & Carole E. Marti & Ronald C. Mittelhammer, 1997. "A Case Study of Rural Land Prices at the Urban Fringe Including Subjective Buyer Expectations," Land Economics, University of Wisconsin Press, vol. 62(1), pages 10-16.
- John R. Winter & James K. Whittaker, 1981. "The Relationship between Private Ranchland Prices and Public-Land Grazing Permits," Land Economics, University of Wisconsin Press, vol. 57(3), pages 414-421.
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