Across western North America, invasive plant species and elevated levels of nitrogen are threatening the productivity of rangelands. A bioeconomic model of stocking cattle on these rangelands is used to show that optimal stocking depends on the competition between native grasses and the...

Across western North America, invasive plant species and elevated levels of nitrogen are threatening the productivity of rangelands. A bioeconomic model of stocking cattle on these rangelands is used to show that optimal stocking depends on the competition between native grasses and the...

Optimal harvests using individual licenses are determined given that a licensee's probabilities of procuring a license and harvesting successfully are less than one. Probabilities are dependent on the resource stock and the number of licenses, and licensees benefit from the harvesting experience...