Question: 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

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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