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Using meta-analysis for benefits transfer: Theory and practice

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  • Bergstrom, John C.
  • Taylor, Laura O.

Abstract

Meta-analysis, or the "study of studies", attempts to statistically measure systematic relationships between reported valuation estimates for an environmental good or service and attributes of the study that generated the estimates including valuation methods, human population and sample characteristics, and characteristics of the good or service itself. In this paper, we discuss the general theory behind and practice of the emerging use of meta-analysis for benefits transfer. If carefully conducted following systematic protocols for model development, data collection, and data analysis and interpretation, we believe that meta-analysis may prove to be a useful tool for benefits transfer in particular applications. However, before widespread application of this method, more convergent validity tests are needed. One of the greatest strengths of using meta-analysis for benefits transfer is the ability to combine and summarize large amounts of information from previous studies. This strength can also lead to one of the greatest weaknesses of this method which is the loss of important valuation details across time and space in the aggregation process. Thus, application of this method to policy questions and issues should always proceed with caution.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 60 (2006)
Issue (Month): 2 (December)
Pages: 351-360

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Handle: RePEc:eee:ecolec:v:60:y:2006:i:2:p:351-360

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Web page: http://www.elsevier.com/locate/ecolecon

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  1. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
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  3. Ikuho Kochi & Bryan Hubbell & Randall Kramer, 2006. "An Empirical Bayes Approach to Combining and Comparing Estimates of the Value of a Statistical Life for Environmental Policy Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 34(3), pages 385-406, July.
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  6. Ram Shrestha & John Loomis, 2003. "Meta-Analytic Benefit Transfer of Outdoor Recreation Economic Values: Testing Out-of-Sample Convergent Validity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 25(1), pages 79-100, May.
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  8. van Bueren, Martin & Bennett, Jeffrey W., 2004. "Towards the development of a transferable set of value estimates for environmental attributes," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), March.
  9. Smith, V Kerry & Huang, Ju-Chin, 1995. "Can Markets Value Air Quality? A Meta-analysis of Hedonic Property Value Models," Journal of Political Economy, University of Chicago Press, vol. 103(1), pages 209-27, February.
  10. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September.
  11. Smith, V. Kerry & Osborne, Laura L., 1996. "Do Contingent Valuation Estimates Pass a "Scope" Test? A Meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 287-301, November.
  12. V. Smith & Subhrendu Pattanayak, 2002. "Is Meta-Analysis a Noah's Ark for Non-Market Valuation?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 271-296, June.
  13. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  14. Randall, Alan & Stoll, John R, 1980. "Consumer's Surplus in Commodity Space," American Economic Review, American Economic Association, vol. 70(3), pages 449-55, June.
  15. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
  16. Loomis, John B. & White, Douglas S., 1996. "Economic benefits of rare and endangered species: summary and meta-analysis," Ecological Economics, Elsevier, vol. 18(3), pages 197-206, September.
  17. T. D. Stanley, 2005. "Beyond Publication Bias," Journal of Economic Surveys, Wiley Blackwell, vol. 19(3), pages 309-345, 07.
  18. V. Kerry Smith & George Van Houtven & Subhrendu K. Pattanayak, 2002. "Benefit Transfer via Preference Calibration: "Prudential Algebra" for Policy," Land Economics, University of Wisconsin Press, vol. 78(1), pages 132-152.
  19. Beron, Kurt & Murdoch, James & Thayer, Mark, 2001. "The Benefits of Visibility Improvement: New Evidence from the Los Angeles Metropolitan Area," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 319-37, March-May.
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Citations

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Cited by:
  1. Jon Nelson & Peter Kennedy, 2009. "The Use (and Abuse) of Meta-Analysis in Environmental and Natural Resource Economics: An Assessment," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(3), pages 345-377, March.
  2. Rolfe, John & Brouwer, Roy, 2011. "Testing for value stability with a meta-analysis of choice experiments: River health in Australia," Research Reports 107744, Australian National University, Environmental Economics Research Hub.
  3. Menegaki, Angeliki N., 2014. "On energy consumption and GDP studies; A meta-analysis of the last two decades," Renewable and Sustainable Energy Reviews, Elsevier, vol. 29(C), pages 31-36.
  4. Kukielka, Jessica B. & Johnston, Robert J. & Duke, Joshua M., 2008. "Systematic Variation in Willingness to Pay for Agricultural Land Preservation and Implications for Benefit Transfer: A Meta-Analysis," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6121, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Tran Huu Tuan & Henrik Lindhjem, 2008. "Meta-analysis of nature conservation values in Asia & Oceania: Data heterogeneity and benefit transfer issues," EEPSEA Research Report rr2008072, Economy and Environment Program for Southeast Asia (EEPSEA), revised Jul 2008.
  6. Lindhjem, Henrik & Navrud, Ståle, 2008. "How reliable are meta-analyses for international benefit transfers?," Ecological Economics, Elsevier, vol. 66(2-3), pages 425-435, June.
  7. Lyssenko, Nikita & Martinez-Espineira, Roberto, 2009. "`Been there done that': Disentangling option value effects from user heterogeneity when valuing natural resources with a use component," MPRA Paper 21976, University Library of Munich, Germany, revised 08 Apr 2010.
  8. Khatri-Chhetri, Arun & Collins, Alan R., 2011. "Estimation of a Surface Water Quality Valuation Index for the Appalachian Region," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103653, Agricultural and Applied Economics Association.
  9. Ryan Stapler & Robert Johnston, 2009. "Meta-Analysis, Benefit Transfer, and Methodological Covariates: Implications for Transfer Error," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(2), pages 227-246, February.
  10. Marin, Giovanni, 2009. "Valutazione economica della biodiversità marina e costiera nel Nord Adriatico: situazione socio-economica dell’area considerata e trasferimento del beneficio
    [Economic valuation of marine and co
    ," MPRA Paper 17793, University Library of Munich, Germany.
  11. John Rolfe & Roy Brouwer, 2011. "Testing for value stability with a meta-analysis of choice experiments: River health in Australia," Environmental Economics Research Hub Research Reports 1095, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
  12. Morrison, Mark & Bergland, Olvar, 2006. "Prospects for the use of choice modelling for benefit transfer," Ecological Economics, Elsevier, vol. 60(2), pages 420-428, December.
  13. repec:dgr:uvatin:2009080 is not listed on IDEAS
  14. Henrik Lindhjem & Tran Tuan, 2012. "Valuation of species and nature conservation in Asia and Oceania: a meta-analysis," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, vol. 14(1), pages 1-22, January.
  15. Kaul, Sapna & Boyle, Kevin J. & Kuminoff, Nicolai V. & Parmeter, Christopher F. & Pope, Jaren C., 2013. "What can we learn from benefit transfer errors? Evidence from 20 years of research on convergent validity," Journal of Environmental Economics and Management, Elsevier, vol. 66(1), pages 90-104.
  16. Liu, Shuang & Stern, David I., 2008. "A Meta-Analysis of Contingent Valuation Studies in Coastal and Near-Shore Marine Ecosystems," MPRA Paper 11608, University Library of Munich, Germany.

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