The Krutilla-Fischer computational model is extended to consider the amenity value of natural resources which are not unique and for which substitutes exist. Reconsideration of the 1975 Krutilla-Fischer analysis of Hells Canyon indicates that the original analysis overstated preservation benefits. It demonstrates that income and population growth influence and are interdependent with vertical and horizontal shifts in demand. 8 references, 2 figures, 1 table. (DCK)
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Cuddington et al. (1981) studied this question.