Bush encroachment control and risk management in semi-arid rangelands
Research output: Working paper › Working papers
Authors
We study the role of bush encroachment control for a farmer's income and income risk in a stochastic ecological-economic model of grazing management in semi-arid rangelands. In particular, we study debushing as an instrument of risk management that complements the choice of an adaptive grazing management strategy for that sake. We show that debushing, while being a good practice for increasing the mean pasture productivity and thus expected income, also increases the farmer's income risk. The optimal extent of debushing for a risk-averse farmer is thus determined from balancing the positive and negative consequences of debushing on intertemporal and stochastic farm income. © 2014 Elsevier Ltd.
Original language | English |
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Place of Publication | Lüneburg |
Publisher | Institut für Volkswirtschaftslehre der Universität Lüneburg |
Number of pages | 33 |
Publication status | Published - 12.2010 |
- Sustainability sciences, Management & Economics
- Economics