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Cross-Context Benefit Transfer: A Bayesian Search for Information Pools

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  • Klaus Moeltner
  • Randall S. Rosenberger

Abstract

Commodity equivalence and population similarity are two widely accepted paradigms for the valid transfer of welfare estimates across resource valuation contexts. We argue that strict adherence to these rules may leave relevant information untapped, and propose a Bayesian model search algorithm that examines the probabilities with which two or more sub-sets of meta-data, each corresponding to a different combination of commodity and population, share common value distributions. Using a large meta-data set of willingness-to-pay for diverse outdoor activities across various regions of the United States as an example, we find strong potential for contexts that would not traditionally be considered as transfer candidates to form information pools. Exploiting these commonalities leads to substantial efficiency gains for benefit estimates.

Suggested Citation

  • Klaus Moeltner & Randall S. Rosenberger, 2014. "Cross-Context Benefit Transfer: A Bayesian Search for Information Pools," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(2), pages 469-488.
    • Handle: RePEc:oup:ajagec:v:96:y:2014:i:2:p:469-488.
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    File URL: http://hdl.handle.net/10.1093/ajae/aat115
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    Citations

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    Cited by:

    1. Robert J. Johnston & Elena Y. Besedin & Benedict M. Holland, 2019. "Modeling Distance Decay Within Valuation Meta-Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(3), pages 657-690, March.
    2. Heather Klemick & Charles Griffiths & Dennis Guignet & Patrick Walsh, 2018. "Improving Water Quality in an Iconic Estuary: An Internal Meta-analysis of Property Value Impacts Around the Chesapeake Bay," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(2), pages 265-292, February.
    3. Hermine Vedogbeton & Robert J. Johnston, 2020. "Commodity Consistent Meta-Analysis of Wetland Values: An Illustration for Coastal Marsh Habitat," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 75(4), pages 835-865, April.
    4. Moeltner, Klaus, 2019. "Bayesian nonlinear meta regression for benefit transfer," Journal of Environmental Economics and Management, Elsevier, vol. 93(C), pages 44-62.
    5. Masiero, Mauro & Franceschinis, Cristiano & Mattea, Stefania & Thiene, Mara & Pettenella, Davide & Scarpa, Riccardo, 2018. "Ecosystem services’ values and improved revenue collection for regional protected areas," Ecosystem Services, Elsevier, vol. 34(PA), pages 136-153.
    6. Stephen Newbold & R. David Simpson & D. Matthew Massey & Matthew T. Heberling & William Wheeler & Joel Corona & Julie Hewitt, 2018. "Benefit Transfer Challenges: Perspectives from U.S. Practitioners," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(3), pages 467-481, March.
    7. Robert Johnston & Klaus Moeltner, 2014. "Meta-Modeling and Benefit Transfer: The Empirical Relevance of Source-Consistency in Welfare Measures," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 59(3), pages 337-361, November.
    8. Robert J. Johnston & Kevin J. Boyle & Maria L. Loureiro & Ståle Navrud & John Rolfe, 2021. "Guidance to Enhance the Validity and Credibility of Environmental Benefit Transfers," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 79(3), pages 575-624, July.
    9. Steven J. Dundas & Roger H. von Haefen, 2021. "The importance of data structure and nonlinearities in estimating climate impacts on outdoor recreation," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 107(3), pages 2053-2075, July.
    10. Gebeyehu Fetene & Søren Olsen & Ole Bonnichsen, 2014. "Disentangling the Pure Time Effect From Site and Preference Heterogeneity Effects in Benefit Transfer: An Empirical Investigation of Transferability," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 59(4), pages 583-611, December.
    11. Robert J. Johnston & Elena Y. Besedin & Ryan Stapler, 2017. "Enhanced Geospatial Validity for Meta-analysis and Environmental Benefit Transfer: An Application to Water Quality Improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 343-375, October.
    12. Fitzpatrick, Luke & Parmeter, Christopher F. & Agar, Juan, 2019. "Approaches for visualizing uncertainty in benefit transfer from metaregression," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.

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