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Towards the development of a transferable set of value estimates for environmental attributes

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  • van Bueren, Martin
  • Bennett, Jeffrey W.

Abstract

Estimates of environmental values are frequently required as inputs to cost-benefit analyses when evaluating alternative resource use options. One strategy to avoid the high cost of conducting empirical work when non-market values are involved is to use value estimates from an existing study and to transfer them to the context of interest (a practice known as ‘benefit transfer’). However, the transfer of values is subject to a host of potential errors and could lead to poor policy recommendations. This paper reports the results of an Australian Choice Modelling study that was designed to address the issue of benefit transfer. The Choice Modelling technique is amenable to benefit transfer because, unlike the Contingent Valuation Method, it produces values for resource use outcomes that can be ‘decomposed’ into component values associated with particular attributes of resource use change. These attribute values have the potential to be ‘reconstructed’ according to the scenario changes under investigation in the new policy context. In this study, tests are conducted to examine the validity of transferring estimates derived in a national context to different regional contexts and inferences are made about the impact that differing frames of reference and population characteristics have on value estimates.

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Bibliographic Info

Paper provided by Australian Agricultural and Resource Economics Society in its series 2001 Conference (45th), January 23-25, 2001, Adelaide with number 125993.

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Date of creation: Jan 2001
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Handle: RePEc:ags:aare01:125993

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Related research

Keywords: Choice modelling; benefit transfer; non market valuation; environment.; Environmental Economics and Policy;

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  1. Pate, Jennifer & Loomis, John, 1997. "The effect of distance on willingness to pay values: a case study of wetlands and salmon in California," Ecological Economics, Elsevier, vol. 20(3), pages 199-207, March.
  2. Randall, Alan & Hoehn, John P., 1996. "Embedding in Market Demand Systems," Journal of Environmental Economics and Management, Elsevier, vol. 30(3), pages 369-380, May.
  3. Rolfe, John & Bennett, Jeff & Louviere, Jordan, 2000. "Choice modelling and its potential application to tropical rainforest preservation," Ecological Economics, Elsevier, vol. 35(2), pages 289-302, November.
  4. Boxall, Peter C. & Adamowicz, Wiktor L. & Swait, Joffre & Williams, Michael & Louviere, Jordan, 1996. "A comparison of stated preference methods for environmental valuation," Ecological Economics, Elsevier, vol. 18(3), pages 243-253, September.
  5. Adamowicz W. & Louviere J. & Williams M., 1994. "Combining Revealed and Stated Preference Methods for Valuing Environmental Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 271-292, May.
  6. Ronald J. Sutherland & Richard G. Walsh, 1985. "Effect of Distance on the Preservation Value of Water Quality," Land Economics, University of Wisconsin Press, vol. 64(3), pages 281-291.
  7. Brouwer, Roy, 2000. "Environmental value transfer: state of the art and future prospects," Ecological Economics, Elsevier, vol. 32(1), pages 137-152, January.
  8. Kling, Catherine L. & Herriges, Joseph A., 1995. "Empirical Investigation of the Consistency of Nested Logit Models with Utility Maximization (An)," Staff General Research Papers 1499, Iowa State University, Department of Economics.
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