The Decision To Use Benefit Transfer Or Conduct Original Valuation Research For Benefit-Cost And Policy Analysis
Abstract"We develop a method for determining the economic returns to using original valuation research rather than benefit transfer to estimate nonmarket values for policy analysis purposes. We provide a method to guide policymakers in determining the project sizes for which original research can be expected to yield positive returns in terms of reduced decision errors. We then provide an empirical example of how our method can be applied to the estimation of recreation benefits and provide simple guidance to policymakers regarding the relationship between project size and expected returns to original valuation research to estimate recreation benefits." ("JEL" H43, Q51, Q26) Copyright 2007 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Contemporary Economic Policy.
Volume (Year): 26 (2008)
Issue (Month): 1 (01)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1074-3529
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Find related papers by JEL classification:
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
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- Turner, Robert, 2012.
"Using Contingent Choice Surveys to Inform National Park Management,"
2012-02, Department of Economics, Colgate University.
- Robert Turner, 2013. "Using contingent choice surveys to inform national park management," Journal of Environmental Studies and Sciences, Springer, vol. 3(2), pages 120-138, June.
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