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We develop and apply a new method for estimating the economic benefits of an environmental amenity. The method fits within the household production framework (Becker 1965), and is based upon the notion of estimating the derived demand for a privately traded option to utilize a freely-available...
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over the parameters of the fishery and the timing of available substitutes for sperm oil in order to determine the effect … on the whale population. Using new biological analysis of the sperm whale fishery (Whitehead, 2002) and insights from …
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