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Meta-Regression and Benefit Transfer: Data Space, Model Space, and the Quest for ‘Optimal Scope’

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Author Info
Klaus Moeltner () (Department of Resource Economics, University of Nevada, Reno)
Randall S. Rosenberger (Department of Forest Resources, Oregon State University)

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Abstract

Meta-functional Benefit Transfer, while conceptually attractive, is often plagued by the paucity of available source studies and related small sample problems. A broadening of scope of the Meta-Regression Model by adding data from “related, yet different” contexts or activities may circumvent these issues, but may not necessarily enhance the efficiency of transfer functions if the different contexts do not share policy-relevant parameters. We illustrate how different combinations of contexts can be interpreted as ‘data spaces’ which can then be explored for the most promising transfer function using Bayesian Model Search techniques. Our results indicate that for some scope-augmented data spaces model-averaged benefit predictions can be more efficient than those flowing from the baseline context and data.

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File URL: http://www.business.unr.edu/econ/wp/papers/UNRECONWP07011.pdf
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File Function: First version, 2007
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Publisher Info
Paper provided by University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics in its series Working Papers with number 07-011.

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Length: 45 pages
Date of creation: Dec 2007
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Handle: RePEc:unr:wpaper:07-011

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Related research
Keywords: Bayesian Model Averaging; Stochastic Search Variable Selection; Meta-Analysis; Benefit Transfer; Resource Valuation;

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Find related papers by JEL classification:
C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Bayesian Analysis
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods
Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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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. Rosenberger, Randall S. & Loomis, John B., 2000. "Panel Stratification In Meta-Analysis Of Economic Studies: An Investigation Of Its Effects In The Recreation Valuation Literature," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(03), December. [Downloadable!]
  2. 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)
  3. Smith, V. Kerry & Pattanayak, Subhrendu K. & Van Houtven, George L., 2006. "Structural benefit transfer: An example using VSL estimates," Ecological Economics, Elsevier, vol. 60(2), pages 361-371, December. [Downloadable!] (restricted)
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Cited by:
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  1. Klaus Moeltner & Richard T. Woodward, 2007. "Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples," Working Papers 07-012, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics. [Downloadable!]
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