A Note on First Step Analysis and Rangeland Management Under Uncertainty
Journal of Arid Environments, Vol. 59, No. 1, pp. 159-166, 2004
Posted: 29 Jun 2004
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A Note on First Step Analysis and Rangeland Management Under Uncertainty
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: D81, Q25
Suggested Citation: Suggested Citation