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The Benefit-Transfer Challenges

  • Kevin J. Boyle
  • Nicolai V. Kuminoff
  • Christopher F. Parmeter
  • Jaren C. Pope

    ()

    (Department of Agricultural and Applied Economics, Virginia Tech, Blacksburg, Virginia 24061
    Department of Economics, Arizona State University, Tempe, Arizona 85287
    Department of Economics, University of Miami, Miami, Florida 33124
    Department of Economics, Brigham Young University, Provo, Utah 84602)

Presidential Executive Order 12,866 requires federal agencies to design “cost-effective” regulations and to assess “costs and benefits” of these regulations on the basis of “the best reasonably obtainable scientific, technical, economic, and other information.” Benefit transfers are one economic approach used to estimate these benefits and costs, and the use of existing economic information to predict the effects of new policies is well established. However, advancing the practice of benefit transfers is crucial if economists are to play a role in developing federal policies. We review contributions to the benefit-transfer literature and present a unified conceptual framework to guide the design and evaluation of benefit-transfer guidelines.

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File URL: http://www.annualreviews.org/doi/abs/10.1146/annurev.resource.012809.103933
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Article provided by Annual Reviews in its journal Annual Review of Resource Economics.

Volume (Year): 2 (2010)
Issue (Month): 1 (October)
Pages: 161-182

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Handle: RePEc:anr:reseco:v:2:y:2010:p:161-182
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