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Meta-Analytic Benefit Transfer of Outdoor Recreation Economic Values: Testing Out-of-Sample Convergent Validity

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Author Info
Ram Shrestha ()
John Loomis
Abstract

A benefit transfer approach to recreationeconomic valuation using meta-analysis isexamined. Since the meta- regression modeltakes into account some of the study specificeffects on willingness to pay (WTP) estimates,benefit transfer using meta-analysis couldyield a valid WTP estimate of unstudiedrecreation resources. The convergent validityof the meta-analytic benefit transfer is testedusing out-of-sample original studies from theU.S. The analyses are performed usingpercentage difference, paired t-test,regression and correlation tests. The testsreveal mixed results on convergence betweenestimated WTP using meta-analytic benefittransfer function (BTF) and out-of-sampleoriginal WTP values. There is a fairly highpercentage difference between the estimated andoriginal WTP values (80–88%), and the meandifferences are statistically significant asshown by paired t-tests. However, correlationand regression results consistently showsignificant positive relationships betweennational BTF estimated and original WTP valuesindicating some level of convergence. Theresults show that the national BTF outperformthe regional BTF indicating a potential of thenational BTF for recreation benefit transferwhen a “first best” primary valuation study isnot affordable. Copyright Kluwer Academic Publishers 2003

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File URL: http://hdl.handle.net/10.1023/A:1023658501572
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 25 (2003)
Issue (Month): 1 (May)
Pages: 79-100
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Handle: RePEc:kap:enreec:v:25:y:2003:i:1:p:79-100

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Related research
Keywords: benefit transfer function; meta-analysis; outdoor recreation; out-of-sample test;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Kirchhoff, Stefanie & Colby, Bonnie G. & LaFrance, Jeffrey T., 1997. "Evaluating the Performance of Benefit Transfer: An Empirical Inquiry," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 75-93, May. [Downloadable!] (restricted)
  2. Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-47, June. [Downloadable!] (restricted)
  3. Rosenberger, Randall S. & Loomis, John B., 2000. "Panel Stratification In Meta-Analysis Of Economic Studies: An Investigation Of Its Effects In The Recreation Valuation Literature," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(03), December. [Downloadable!]
  4. Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier. [Downloadable!] (restricted)
  5. 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. [Downloadable!] (restricted)
  6. 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. [Downloadable!] (restricted)
  7. Downing, Mark & Ozuna, Teofilo Jr., 1996. "Testing the Reliability of the Benefit Function Transfer Approach," Journal of Environmental Economics and Management, Elsevier, vol. 30(3), pages 316-322, May. [Downloadable!] (restricted)
  8. T. D. Stanley, 2001. "Wheat from Chaff: Meta-analysis as Quantitative Literature Review," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 131-150, Summer. [Downloadable!] (restricted)
  9. Richard T. Carson & Nicholas E. Flores & Norman F. Meade, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series 96-36r, Department of Economics, UC San Diego. [Downloadable!]
    Other versions:
  10. Walsh, Richard G. & Johnson, Donn M. & McKean, John R., 1989. "Issues In Nonmarket Valuation And Policy Application: A Retrospective Glance," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July. [Downloadable!]
  11. Smith, V. Kerry & Van Houtven, George & Pattanayak, Subhrendu, 1999. "Benefit Transfer as Preference Calibration," Discussion Papers dp-99-36, Resources For the Future. [Downloadable!]
  12. Loomis, John & Yorizane, Shizuka & Larson, Douglas, 2000. "Testing Significance Of Multi-Destination And Multi-Purpose Trip Effects In A Travel Cost Method Demand Model For Whale Watching Trips," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), October. [Downloadable!]
  13. 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. [Downloadable!] (restricted)
  14. Roy Brouwer & Frank Spaninks, 1999. "The Validity of Environmental Benefits Transfer: Further Empirical Testing," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(1), pages 95-117, July. [Downloadable!] (restricted)
  15. 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. [Downloadable!] (restricted)
  16. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1994. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," University of California at San Diego, Economics Working Paper Series 94-07, Department of Economics, UC San Diego.
  17. Creel, Michael D & Loomis, John B, 1991. "Confidence Intervals for Welfare Measures with Application to a Problem of Truncated Counts," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 370-73, May. [Downloadable!] (restricted)
  18. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Johnston, Robert J., 2006. "Context Similarity and the Validity of Benefits Transfer: Is the Common Wisdom Correct?," 2006 Annual meeting, July 23-26, Long Beach, CA 21221, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  2. Shuang Liu & David I Stern, 2008. "A Meta-Analysis of Contingent Valuation Studies in Coastal and Near-Shore Marine Ecosystems," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2008-15, CSIRO Sustainable Ecosystems. [Downloadable!]
    Other versions:
  3. Lindhjem, Henrik & Navrud, Ståle, 2007. "How Reliable are Meta-Analyses for International Benefit Transfers?," MPRA Paper 11484, University Library of Munich, Germany. [Downloadable!]
  4. Tuan, Tran Hu & Lindhjem, Henrik, 2008. "Meta-analysis of nature conservation values in Asia & Oceania: Data heterogeneity and benefit transfer issues," MPRA Paper 11470, University Library of Munich, Germany. [Downloadable!]
  5. Colombo, S. & Calatrava-Requena, J. & Conzalex-Roa, M.C., 2005. "Testing Choice Experiment for Benefit Transfer," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24747, European Association of Agricultural Economists. [Downloadable!]
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