A Note on First Step Analysis and Rangeland Management Under Uncertainty

15 Pages Posted: 7 Feb 2004

See all articles by Amitrajeet A. Batabyal

Amitrajeet A. Batabyal

Rochester Institute of Technology (RIT) - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: January 2004

Abstract

Recently, Batabyal and Godfrey (2002) have used a discrete-time Markov chain model to analyze the problem of rangeland management under uncertainty. In the present note, I continue this line of inquiry. In particular, I first show how the technique of first step analysis can be used to derive a time based objective function for a range manager. Next, I discuss aspects of the decision problem faced by a range manager who wishes to optimize the above objective function and thereby minimize the cost to society from range desertification.

Keywords: Desertification, Markov Chain, Rangeland Management, Uncertainty

JEL Classification: Q20, D81

Suggested Citation

Batabyal, Amitrajeet A., A Note on First Step Analysis and Rangeland Management Under Uncertainty (January 2004). Available at SSRN: https://ssrn.com/abstract=496263 or http://dx.doi.org/10.2139/ssrn.496263

Amitrajeet A. Batabyal (Contact Author)

Rochester Institute of Technology (RIT) - Department of Economics ( email )

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