Bhattacharyya, Arunava; Narayanan, Rangesan; … - In: Land Economics 72 (1996) 4
A demand function for grazing on western public rangelands is estimated. Since the federal government sets the grazing fee and rations the quantity of Animal Unit Months (AUMs), a disequilibrium market model is developed. The estimate of own-price elasticity of demand (-0.178) suggests a 0.82...