Meta-Regression and Benefit Transfer: Data Space, Model Space, and the Quest for ‘Optimal Scope’
AbstractMeta-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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Bibliographic InfoPaper 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.
Length: 45 pages
Date of creation: Dec 2007
Date of revision:
Bayesian Model Averaging; Stochastic Search Variable Selection; Meta-Analysis; Benefit Transfer; Resource Valuation;
Find related papers by JEL classification:
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-12-08 (All new papers)
- NEP-ECM-2007-12-08 (Econometrics)
- NEP-ENV-2007-12-08 (Environmental Economics)
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.:
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"Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples,"
07-012, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics.
- Klaus Moeltner & Richard Woodward, 2009. "Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(1), pages 89-108, January.
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