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An Econometric Evaluation of a Generalized Consumer Surplus Measure: The Mineral King Controversy
Charles J. Cicchetti
Anthony C. Fisher
V. Kerry Smith
Abstract
This paper develops a household production model of individual behavior to focus on the choice of recreational activities. This framework is used to propose a generalized approach for measuring the consumer surplus associated with a natural resource development project. The model is applied to the proposed Mineral King project in California. The results indicate that the project is unlikely to yield a positive net present value.
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