L. A. Torell, N. R. Rimbey, J. A. Tanaka and S. A. Bailey, “The Lack of a Profit Motive for Ranching: Implications for Policy Analysis,” Annual Meeting of the Society for Range Management, Kailua-Kona, 17-23 February 2001, pp. 1-12.

has been cited by the following article:

• TITLE: A Bioeconomic Model for Sustainable Grazing of Old World Bluestem under Uncertainty

  AUTHORS: Aaron Benson, Cody Zilverberg

  KEYWORDS: Dryland Grazing; Sustainable Grazing; Profit Distribution

  JOURNAL NAME: Natural Resources, Vol.4 No.4, August 8, 2013

  ABSTRACT: "WW B. Dahl", a perennial old world bluestem (OWB) grass, has been promoted as a forage suitable for dryland grazing. Dryland grazing of OWB is however inherently risky economically and ecologically, and may not be sustainable while remaining profitable. In this paper we develop a biological and economic single-season model of dryland grazing given production and price uncertainty, and identify a stocking rate that maximizes expected net revenue, subject to a sustainability constraint. We then simulate the distribution of net revenues, and find that probability of loss is greater than 35%, and median profit is roughly $30/ha.