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Benefit Transfer as Preference Calibration

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Author Info
Smith, V. Kerry
Van Houtven, George
Pattanayak, Subhrendu

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Abstract

This paper proposes and illustrates the use of a new approach to benefit transfer for the non-market valuation of environmental resources. It treats transfer as an identification problem that requires assessing whether available benefit estimates permit the parameters of a preference function to be identified. The transfer method proposed uses these identifying restrictions to calibrate preference parameters and bases the benefit estimates on that preference function. The approach is illustrated using travel cost, hedonic and contingent valuation estimates, as well as combinations of estimates. It has three potential advantages over conventional practice: (1) it allows multiple, potentially overlapping estimates of the benefits of an improvement in environmental quality to be combined consistently; (2) it assures the transferred estimates of the benefits attributed to a proposed change can never exceed income; and (3) it provides a set of additional "outputs" that offer plausibility checks of the benefit transfers.

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Paper provided by Resources For the Future in its series Discussion Papers with number dp-99-36.

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Date of creation: 01 May 1999
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Handle: RePEc:rff:dpaper:dp-99-36

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Feenstra, R.C., 1995. "Exact Hedonic Price Indexes," Department of Economics 95-11, California Davis - Department of Economics.
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  2. James M. Poterba, 1992. "Taxation and Housing: Old Questions, New Answers," NBER Working Papers 3963, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Kirchhoff, Stefanie & Colby, Bonnie G. & LaFrance, Jeffrey T., 1997. "Evaluating the Performance of Benefit Transfer: An Empirical Inquiry," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 75-93, May. [Downloadable!] (restricted)
  4. Englin, Jeffrey & Lambert, David & Shaw, W. Douglass, 1997. "A Structural Equations Approach to Modeling Consumptive Recreation Demand," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 33-43, May. [Downloadable!] (restricted)
  5. Bartik, Timothy J, 1987. "The Estimation of Demand Parameters in Hedonic Price Models," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 81-88, February. [Downloadable!] (restricted)
  6. Morey Edward R., 1994. "What Is Consumer's Surplus Per Day of Use, When Is It a Constant Independent of the Number of Days of Use, and What Does It Tell Us about Consumers Surplus?," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 257-270, May. [Downloadable!] (restricted)
  7. Hanemann, W Michael, 1984. "Discrete-Continuous Models of Consumer Demand," Econometrica, Econometric Society, vol. 52(3), pages 541-61, May. [Downloadable!] (restricted)
  8. Downing, Mark & Ozuna, Teofilo Jr., 1996. "Testing the Reliability of the Benefit Function Transfer Approach," Journal of Environmental Economics and Management, Elsevier, vol. 30(3), pages 316-322, May. [Downloadable!] (restricted)
  9. Burtless, Gary & Hausman, Jerry A, 1978. "The Effect of Taxation on Labor Supply: Evaluating the Gary Negative Income Tax Experiments," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 1103-30, December. [Downloadable!] (restricted)
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  10. Jeffrey Englin & David Lambert, 1995. "Measuring angling quality in count data models of recreational fishing," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(4), pages 389-399, December. [Downloadable!] (restricted)
  11. Quigley, John M., 1982. "Nonlinear budget constraints and consumer demand: An application to public programs for residential housing," Journal of Urban Economics, Elsevier, vol. 12(2), pages 177-201, September. [Downloadable!] (restricted)
  12. James R. Hines, Jr., 1998. "Three Sides of Harberger Triangles," NBER Working Papers 6852, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  13. Niklitschek+, Mario & Leon+, Javier, 1996. "Combining Intended Demand and Yes/No Responses in the Estimation of Contingent Valuation Models," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 387-402, November. [Downloadable!] (restricted)
  14. Hausman, Jerry A, 1981. "Exact Consumer's Surplus and Deadweight Loss," American Economic Review, American Economic Association, vol. 71(4), pages 662-76, September. [Downloadable!] (restricted)
  15. Smith, V. Kerry & Espinosa, Andres, 1996. "Environmental and Trade Policies: Some Methodological Lessons," Discussion Papers dp-96-18, Resources For the Future. [Downloadable!]
  16. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September. [Downloadable!] (restricted)
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  1. Smith, V. Kerry & Banzhaf, H. Spencer & Walsh, Randy, 2002. "General Equilibrium Benefit Transfers for Spatial Externalities: Revisiting EPA's Prospective Analysis," Discussion Papers dp-02-44, Resources For the Future. [Downloadable!]
  2. Ram Shrestha & John Loomis, 2003. "Meta-Analytic Benefit Transfer of Outdoor Recreation Economic Values: Testing Out-of-Sample Convergent Validity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 25(1), pages 79-100, May. [Downloadable!] (restricted)
  3. V. Smith & Subhrendu Pattanayak, 2002. "Is Meta-Analysis a Noah's Ark for Non-Market Valuation?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 271-296, June. [Downloadable!] (restricted)
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