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Why Grazing Permits Have Economic Value

Author

Listed:
  • Rimbey, Neil R.
  • Torell, L. Allen
  • Tanaka, John A.

Abstract

Grazing permit value supposedly arises as a cost advantage for permit holders. Yet, ranches are overpriced relative to income earning potential. Hedonic models for New Mexico and the Great Basin were used to evaluate permit value. We found less than 16% of the marginal value of grazing permits in New Mexico can be attributed to livestock production, and for Great Basin ranches, estimates indicate none of the value can be assigned to livestock production. Deeded and public land acreages make the ranch bigger and it is the acreage, not the cattle grazing it, that adds the most to ranchland value.

Suggested Citation

  • Rimbey, Neil R. & Torell, L. Allen & Tanaka, John A., 2007. "Why Grazing Permits Have Economic Value," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 32(1), pages 1-21, April.
    • Handle: RePEc:ags:jlaare:8604
    DOI: 10.22004/ag.econ.8604
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    Cited by:

    1. Harris, Thomas R. & Grumstrup, Ethan, 2023. "Alternative Public Land Management Policy Impacts: Ranch and County Level," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2023, January.
    2. Abrams, Jesse & Wollstein, Katherine & Davis, Emily Jane, 2018. "State lines, fire lines, and lines of authority: Rangeland fire management and bottom-up cooperative federalism," Land Use Policy, Elsevier, vol. 75(C), pages 252-259.

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    Keywords

    Livestock Production/Industries;

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