A WELFARE ECONOMIC ANALYSIS OF THE POTENTIAL COMPETITION BETWEEN HUNTING AND CATTLE RANCHING

Comparable empirical estimates of the market and nonmarket values of range cattle production and hunting activity on the same land are developed in the welfare economic framework of consumersÂ’ surplus, producersÂ’ surplus, and the corresponding Hicksian consumer welfare measures. The values are compared to illustrate possible trade-offs that would occur under potential conflict among users of the land resource. The welfare distribution issue is examined both in terms of aggregate and individual compensation that could occur between the alternative users.