Rangeland Management Under Uncertainty: A Conceptual Approach

Abstract

A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of rangelands. We use our approach to discuss the connections between this paper's model and range policy. In particular, we point out scenarios in which there is limited or no role for policy. This is compared to scenarios when policy has a significant role to play in ensuring the sustainable use of rangelands. Finally, we suggest two ways in which our approach might be extended and used in an empirical application.

Keywords: dynamic, policy, rangeland, stochastic

JEL Classification: Q20, D82