Although range researchers and managers involved in range revegetation often have little economics training, economic analysis is usually a crucial step in range revegetation decisions. This synthesis paper is intended to provide a useful background in economic analysis for teachers, students, and natural resource professionals who deal with range revegetation. First, 3 economic standards by which all revegetation projects must be judged are described and interpreted: (1) economic feasibility, (2) economic efficiency, and/or (3) cost effectiveness. Next, the information required for economic analysis and the analytical procedures used to evaluate range revegetation projects are described. A detailed reseeding example is then used to describe the following information requirements: project costs, benefits, value of benefits, interest rate (including real vs. nominal rates), risk, project life (including life extension and grazing deferment), and range site selected for revegetation. Last, procedures for determining optimal vegetation conversion and use are reviewed, emphasizing the vegetation response function as the key to balancing the 3 determinants of long-term net returns: initial vegetation conversion, grazing intensity, and project life. This material was digitized as part of a cooperative project between the Society for Range Management and the University of Arizona Libraries. The Journal of Range Management archives are made available by the Society for Range Management and the University of Arizona Libraries. Contact lbry-journals@email.arizona.edu for further information. Migrated from OJS platform August 2020
Scholarly peer-reviewed articles published by the Society for Range Management. Access articles on a rolling-window basis from vol. 1, 1948 up to 5 years from the current year. Formerly Journal of Range Management (JRM). More recent content is available by subscription from SRM.