Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program
AbstractBenefit transfer offers an inexpensive alternative to conducting an original study to determine economic value. Unfortunately, benefit transfers can also result in biased welfare estimates. In this paper, we suggest a method of calibrating the benefit transfer to reduce this bias. An empirical example to determine the benefits of the Conservation Reserve Program on water-based recreation illustrates the potentially large biases that can result if the transfer is not calibrated. Copyright 1997, Oxford University Press.
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Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.
Volume (Year): 79 (1997)
Issue (Month): 1 ()
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Other versions of this item:
- Hellerstein, Daniel & Feather, Peter, 1997. "Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program," MPRA Paper 25357, University Library of Munich, Germany.
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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- Kling, Catherine L. & Bockstael, Nancy & Hanemann, W. Michael, 1987.
"Estimating the Value of Water Quality Improvements in a Recreational Demand Framework,"
Staff General Research Papers
1594, Iowa State University, Department of Economics.
- Kling, Catherine L. & Bockstael, Nancy & Michael, W., 1999. "Estimating the Value of Water Quality Improvements in a Recreational Demand Framework," Staff General Research Papers 12334, Iowa State University, Department of Economics.
- Parsons George R. & Kealy Mary Jo, 1995. "A Demand Theory for Number of Trips in a Random Utility Model of Recreation," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 357-367, November.
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