A long-standing question in range management concerns the relative importance of the stocking rate versus the length of time during which animals graze a particular rangeland. Recently, Batabyal and co-workers provided a theoretical answer to this question. Given the importance of this question...

The notion of a reservation value is a key feature of most contemporary dynamic and stochastic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many papers that analyze...

A long standing question in range management concerns the relative importance of the stocking rate versus the length oftime during which animals graze a particular rangeland. Weaddress this question by analyzing the problem faced by a privaterancher who wishes to minimize the long run expected...