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A Dynamic And Stochastic Perspective On The Role Of Time In Range Management

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  • Batabyal, Amitrajeet A.
  • Biswas, Basudeb
  • Godfrey, E. Bruce

Abstract

This chapter uses a new ecological-economic approach to analyze the role of time in range management in a dynamic and stochastic setting. We first construct a theoretical model of a parcel of rangeland in which time restrictions are used to manage the land. We then show how the dynamic and the stochastic properties of this rangeland can be used to construct two managerial objectives that are ecologically and economically meaningful. Finally, using these two objectives, we discuss an approach to range management in which the manager has two interrelated goals. This manager maximizes the profits from range operations and (s)he also takes steps to move the rangeland away from the least desirable state of existence.

Suggested Citation

  • Batabyal, Amitrajeet A. & Biswas, Basudeb & Godfrey, E. Bruce, 2003. "A Dynamic And Stochastic Perspective On The Role Of Time In Range Management," 2003 Annual meeting, July 27-30, Montreal, Canada 22149, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea03:22149
    DOI: 10.22004/ag.econ.22149
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    References listed on IDEAS

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    1. Karpoff, Jonathan M, 1987. "Suboptimal Controls in Common Resource Management: The Case of the Fishery," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 179-194, February.
    2. Batabyal, Amitrajeet A. & Beladi, Hamid, 2004. "Time restrictions in natural resource management: A dynamic and stochastic analysis," European Journal of Operational Research, Elsevier, vol. 157(3), pages 775-783, September.
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    6. Batabyal, Amitrajeet A., 1998. "The concept of resilience: retrospect and prospect," Environment and Development Economics, Cambridge University Press, vol. 3(2), pages 221-262, May.
    7. Ray G. Huffaker & James E. Wilen & B. Delworth Gardner, 1989. "Multiple Use Benefits on Public Rangelands: An Incentive-Based Fee System," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(3), pages 670-678.
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    9. L. Allen Torell & Kenneth S. Lyon & E. Bruce Godfrey, 1991. "Long-Run versus Short-Run Planning Horizons and the Rangeland Stocking Rate Decision," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(3), pages 795-807.
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    Cited by:

    1. Batabyal, Amitrajeet A., 2000. "An interdisciplinary research agenda for the study of ecological-economic systems in the American West," Resources Policy, Elsevier, vol. 26(2), pages 69-75, June.

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