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Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program

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  • Hellerstein, Daniel
  • Feather, Peter

Abstract

Benefit 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.

Suggested Citation

  • Hellerstein, Daniel & Feather, Peter, 1997. "Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program," MPRA Paper 25357, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:25357
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    References listed on IDEAS

    as
    1. 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 Archive 1594, Iowa State University, Department of Economics.
    2. Noel Blisard & James Blaylock, 1993. "Distinguishing between Market Participation and Infrequency of Purchase Models of Butter Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(2), pages 314-320.
    3. 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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    More about this item

    Keywords

    benefit transfer; Conservation Reserve Program; double hurdle model; random utility model; soil erosion.;
    All these keywords.

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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