If we assume that E is fixed at its initial level, the more realistic case in evaluating
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If we assume that E is fixed at its initial level, the more realistic case in evaluating an existing wilderness area, then the existence value equals only $5.47. It is smaller than in the example because the person does not have the opportunity to purchase more E when X is not available. This assumption changes neither the TEV nor the existence value as estimated by the use-existence partition.
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Yes that is correct The existence value reflects the value that an individual pla...View the full answer
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Related Book For
Cost Benefit Analysis Concepts And Practice
ISBN: 9781108401296
5th Edition
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
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