A Numerical Stochastic Control model of Range Management
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An optimal stochastic control model of grazing that incorporates both pasture
and livestock dynamics is presented. The model is solved numerically using Markov
chain approximation methods. Markov chain approximation methods have a number
of advantages as a means of solving stochastic optimal control methods compared
with the usual alternatives. In particular, optimal control of the approximating
Markov chain may be determined using Linear programming methods, thus making
optimal stochastic control methods accessible to a wider audience.