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How Can We Reduce the Errors from Benefits Transfer? An Investigation Using the Choice Experiment Method

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  • Sergio Colombo
  • Nick Hanley

Abstract

Policymakers are increasingly making use of benefits transfer in benefit-cost assessments of environmental policy. An important question is how big the resultant errors are, and how sensitive errors are to how the transfer is conducted. We employ a choice experiment focusing on landscape attributes to investigate the sensitivity of transfer error to procedures. The main findings are that errors depend on the choice of study site at which original valuations are sought, on whether a single site or pooled model is used; and that adding more information by pooling sites does not always seem to be economically desirable.

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File URL: http://le.uwpress.org/cgi/reprint/84/1/128
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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 84 (2008)
Issue (Month): 1 ()
Pages: 128-147

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Handle: RePEc:uwp:landec:v:84:y:2008:i:1:p:128-147

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Web page: http://le.uwpress.org/

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Cited by:
  1. Catalina M. Torres Figuerola & Antoni Riera Font, 2009. "Defining environmental attributes as external costs in choice experiments: A discussion," CRE Working Papers (Documents de treball del CRE), Centre de Recerca Econòmica (UIB ·"Sa Nostra") 2009/1, Centre de Recerca Econòmica (UIB ·"Sa Nostra").
  2. Nick Hanley & Simanti Banerjee & Gareth D. Lennox & Paul R. Armsworth, 2012. "How should we incentivize private landowners to ‘produce’ more biodiversity?," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 28(1), pages 93-113, Spring.
  3. Baskaran, Ramesh & Cullen, Ross & Colombo, Sergio, 2010. "Economic Valuation of Ecosystem Services in New Zealand Winegrowing Regions: Testing for Benefit Transfer," Review of Applied Economics, Review of Applied Economics, Review of Applied Economics, vol. 6(1-2).
  4. Windle, Jill & Rolfe, John, 2013. "The limitations of applying benefit transfer to assess the value of ecosystem services in a “generic” peri-urban, coastal town in Australia," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia, Australian Agricultural and Resource Economics Society 152183, Australian Agricultural and Resource Economics Society.
  5. Stephen Hynes & Daniel Norton & Nick Hanley, 2013. "Adjusting for Cultural Differences in International Benefit Transfer," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 56(4), pages 499-519, December.
  6. Soliño, Mario & Farizo, Begoña A. & Campos, Pablo, 2009. "The influence of home-site factors on residents' willingness to pay: An application for power generation from scrubland in Galicia, Spain," Energy Policy, Elsevier, Elsevier, vol. 37(10), pages 4055-4065, October.
  7. Johnston, Robert J. & Duke, Joshua M., 2010. "Socioeconomic adjustments and choice experiment benefit function transfer: Evaluating the common wisdom," Resource and Energy Economics, Elsevier, Elsevier, vol. 32(3), pages 421-438, August.
  8. Hynes, Stephen & Norton, Daniel & Hanley, Nick, 2012. "Accounting for Cultural Dimensions in Estimating the Value of Coastal Zone Ecosystem Services using International Benefit Transfer," Working Papers, Socio-Economic Marine Research Unit, National University of Ireland, Galway 148828, Socio-Economic Marine Research Unit, National University of Ireland, Galway.

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