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Autoren: 
Lukomska, Natalia
Quaas, Martin F.
Baumgärtner, Stefan
Datum: 
2010
Schriftenreihe/Nr.: 
Working Paper Series in Economics No. 191
Zusammenfassung: 
We study the role of bush encroachment control for a farmer's income and income risk in a stochastic ecological-economic model of grazing management in semiarid rangelands. In particular, we study debushing as an instrument of risk management that complements the choice of an adaptive grazing management strategy for that sake. We show that debushing, while being a good practice for increasing the mean pasture productivity and thus expected income, also increases the farmer's income risk. The optimal extent of debushing for a risk-averse farmer is thus determined from balancing the positive and negative consequences of debushing on intertemporal and stochastic farm income.
Schlagwörter: 
bush encroachment
expected utility
farm income
intertemporal optimization
risk aversion
risk management
semi-arid rangeland
JEL: 
Q57
Q15
Dokumentart: 
Working Paper

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