An economic model of soil conservation/depletion

Land is defined in terms of its qualitative characteristics in order to focus upon conservation/depletion decisions made with respect to the soil. The qualitative definition of land involves a capital component (total nitrogen content) and a Ricardian component (total precipitation). The economic model developed utilizes neoclassical capital theory to describe individual behavior in a conservation/depletion context. An important concept to the system is that of user cost; it is this concept which provides an economic rationale for fallow, a decision which requires the entrepreneur to forego static income as well as depleting the soil.