One can use demand functions to value a site. If the site is removed, one loses all the trips to this specific site. Thus, for a consumer facing a price per trip of USD 3, the loss of the site would be equivalent to the loss of 5 trips a year. For example, the third trip is worth USD 6 to the consumer and costs him USD 3 to take. The third trip thus has a net value of USD 3. The fifth trip is worth USD 3 to the consumer but he had to pay USD 3 to take it, so that the net value of the fifth trip is zero. Using the demand curve to value each lost trip, one would take the sum of the values for trips 1 through 5 minus the transportation costs saved as the measure of annual loss. Graphically, the loss of the site is the loss of the area underneath the demand function but above the price (the shaded area in Figure 1). More formally, the annual val- ue of losing the site is the integral under the demand functi