Contingent Valuation And Recreational Demand
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Keywords
value of recreational experience, Reelfoot Lake, Tennessee, Hicksian compensating variation measures
Abstract
A contingent valuation model is developed to estimate the value of the recreational experience for visitors to Reelfoot Lake in northwestern Tennessee. Hicksian compensating variation measures of consumer surplus were estimated. Individual willingness-to-pay and aggregate willingness-to-pay were calculated for the lake.
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