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Ranch-Level Economic Impact Analysis for Public Lands: A Guide to Methods, Issues, and Applications Item Info
- Title:
- Ranch-Level Economic Impact Analysis for Public Lands: A Guide to Methods, Issues, and Applications
- Creator:
- L. Allen Torell; Neil R. Rimbey; John A. Tanaka; David T. Taylor; J. D. Wulfhorst
- Date Created (ISO Standard):
- 2014
- Description:
- An article from the Journal of Rangeland Applications, an open access journal published at the University of Idaho.
- Abstract:
- Legal mandates require public land managers to consider social and economic impacts in planning efforts, and analysts seek models and tools for use in resource planning and impact assessment. In this paper we review state-of-the-art methods and models that can be used to evaluate ranch-level decisions and land-use policy impacts. Most ranch models use profit-maximization as the decision criterion, but it must be recognized that ranchers make decisions with personal objectives that are broader than just profit. Investments in rangeland improvement practices or management changes can be assessed using standard investment analysis (e.g., net present value, benefit/cost, or internal rate of return). Ranching is a year-round endeavor and changes in a specific season of grazing use or management activity may have greater impact on the whole ranch operation than can be accounted for by analyzing seasons or levels of grazing use in isolation. Impacts will vary with available forage alternatives, ranch resources, and management options. Current models use recursive linear programming or simulations to assess impacts over multiple years. Ranching and grazing on rangelands can affect the production of a variety of ecosystem services, though these are often not quantified or included in either investment analysis or economic models that describe ranch businesses. Because no formal markets exist for many ecosystem services, establishing a value has proven difficult. The few studies that have attempted to quantify ecosystem service values report said values without strong justification for the defined level of goods and services expected under alternative actions and policies.
- Subjects:
- benefit/cost analysis economic impacts ecosystem services ranch budgets
- Source Identifier:
- Journal of Rangeland Applications, Vol 1 (2014), 1-13
- Original Format:
- text
- Type:
- Text
- Format:
- application/pdf
- Language:
- eng
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- Citation:
- "Ranch-Level Economic Impact Analysis for Public Lands: A Guide to Methods, Issues, and Applications", Institutional Repository Collection, University of Idaho Library Digital Collections, https://www.lib.uidaho.edu/digital/ir/items/ir0005.html
Rights
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- In Copyright - Educational Use Permitted. For more information, please contact University of Idaho Library Special Collections and Archives Department at libspec@uidaho.edu.
- Standardized Rights:
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