Some costs of incomplete property rights with regard to federal grazing permits

Public land uses, other than raising livestock, have gained greater importance in policy proposals recently. Under the current property rights regime, the market solution of trading grazing permits is restricted; political action is used to allocate public land use. The effect of increased political...

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Bibliographic Details
Published in:Land economics 1998-05, Vol.74 (2), p.171-185
Main Authors: Egan, L.M. (University of California, Davis.), Watts, M.J
Format: Article
Language:English
Subjects:
Agricultural resources
Cattle
CENTRAL GOVERNMENT
COMMON LANDS
COSTS
Discount rates
Economic models
ESTIMATION
EXTENSIVE FARMING
Fees & charges
Forage
Grazing
Grazing fees
GRAZING SYSTEMS
LAND
Land economics
Land use
Land use planning
Laws, regulations and rules
LEGAL RIGHTS
LICENCES
Livestock
MATHEMATICAL MODELS
NEVADA
Pasture, Right of
Pastures
Policy making
Political action
Political power
Political systems
Politics
PRICES
PROFIT
Property rights
PUBLIC DOMAIN
Public land
Public lands
Public policy
Public property
Ranches
RANCHING
Regulation
Resource allocation
Right of property
Studies
Trade
Uncertainty
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Description
Summary:Public land uses, other than raising livestock, have gained greater importance in policy proposals recently. Under the current property rights regime, the market solution of trading grazing permits is restricted; political action is used to allocate public land use. The effect of increased political pressure to emphasize noncommercial uses on grazing permits values is estimated. If the rights to grazing permits were secure and transferable, then the grazing permits values would not decrease in value as non-commercial uses become more desired. Results indicate the opposite effect occurs in that as non-commercial uses become more dear, grazing permit values have declined.
ISSN:0023-7639
1543-8325
DOI:10.2307/3147049