Quaas, Martin F.; Baumgärtner, Stefan; Becker, Christian; … - 2005
-equilibrium ecosystem is driven by stochastic precipitation. A risk averse farmer chooses a grazing management strategy under uncertainty …-term optimal grazing management strategy. We show that a risk averse farmer chooses a strategy such as to obtain insurance from the … ecosystem: the optimal strategy reduces income variability, but yields less mean income than possible. In a second step we …