Using meta-analysis for benefits transfer: Theory and practice
Meta-analysis, or the "study of studies", attempts to statistically measure systematic relationships between reported valuation estimates for an environmental good or service and attributes of the study that generated the estimates including valuation methods, human population and sample characteristics, and characteristics of the good or service itself. In this paper, we discuss the general theory behind and practice of the emerging use of meta-analysis for benefits transfer. If carefully conducted following systematic protocols for model development, data collection, and data analysis and interpretation, we believe that meta-analysis may prove to be a useful tool for benefits transfer in particular applications. However, before widespread application of this method, more convergent validity tests are needed. One of the greatest strengths of using meta-analysis for benefits transfer is the ability to combine and summarize large amounts of information from previous studies. This strength can also lead to one of the greatest weaknesses of this method which is the loss of important valuation details across time and space in the aggregation process. Thus, application of this method to policy questions and issues should always proceed with caution.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
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.:
- T. D. Stanley, 2001. "Wheat from Chaff: Meta-analysis as Quantitative Literature Review," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 131-150, Summer.
- Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
- Janusz R. Mrozek & Laura O. Taylor, 2002. "What determines the value of life? a meta-analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(2), pages 253-270.
- Tversky, Amos & Kahneman, Daniel, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 1039-61, November.
- Carson, Richard T. & Flores, Nicholas E. & Martin, Kerry M. & Wright, Jennifer L., 1995.
"Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods,"
1995 Conference (39th), February 14-16, 1995, Perth, Australia
148793, Australian Agricultural and Resource Economics Society.
- Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
- Ashenfelter, Orley & Greenstone, Michael, 2004.
"Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias,"
IZA Discussion Papers
1037, Institute for the Study of Labor (IZA).
- Orley Ashenfelter & Michael Greenstone, 2004. "Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias," American Economic Review, American Economic Association, vol. 94(2), pages 454-460, May.
- Orley Ashenfelter & Michael Greenstone, 2004. "Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias," Working Papers 105, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Orley Ashenfelter & Michael Greenstone, 2004. "Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias," NBER Working Papers 10401, National Bureau of Economic Research, Inc.
- Loomis, John B. & White, Douglas S., 1996. "Economic benefits of rare and endangered species: summary and meta-analysis," Ecological Economics, Elsevier, vol. 18(3), pages 197-206, September.
- Smith, V. Kerry & Osborne, Laura L., 1996. "Do Contingent Valuation Estimates Pass a "Scope" Test? A Meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 287-301, November.
- van Bueren, Martin & Bennett, Jeffrey W., 2001.
"Towards the development of a transferable set of value estimates for environmental attributes,"
2001 Conference (45th), January 23-25, 2001, Adelaide
125993, Australian Agricultural and Resource Economics Society.
- van Bueren, Martin & Bennett, Jeffrey W., 2004. "Towards the development of a transferable set of value estimates for environmental attributes," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), March.
- V. Kerry Smith & George Van Houtven & Subhrendu K. Pattanayak, 2002. "Benefit Transfer via Preference Calibration: "Prudential Algebra" for Policy," Land Economics, University of Wisconsin Press, vol. 78(1), pages 132-152.
- Smith, V Kerry & Huang, Ju-Chin, 1995. "Can Markets Value Air Quality? A Meta-analysis of Hedonic Property Value Models," Journal of Political Economy, University of Chicago Press, vol. 103(1), pages 209-27, February.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
- Beron, Kurt & Murdoch, James & Thayer, Mark, 2001. "The Benefits of Visibility Improvement: New Evidence from the Los Angeles Metropolitan Area," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 319-37, March-May.
- John C. Bergstrom & Paul Civita, 1999. "Status of Benefits Transfer in the United States and Canada: A Review," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 47(1), pages 79-87, 03.
- Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September.
- Moeltner, Klaus & Boyle, Kevin J. & Paterson, Robert W., 2007. "Meta-analysis and benefit transfer for resource valuation-addressing classical challenges with Bayesian modeling," Journal of Environmental Economics and Management, Elsevier, vol. 53(2), pages 250-269, March.
- Randall, Alan & Stoll, John R, 1980. "Consumer's Surplus in Commodity Space," American Economic Review, American Economic Association, vol. 70(3), pages 449-55, June.
- 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.
- 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.
- 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.
- Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
- Ikuho Kochi & Bryan Hubbell & Randall Kramer, 2006. "An Empirical Bayes Approach to Combining and Comparing Estimates of the Value of a Statistical Life for Environmental Policy Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 34(3), pages 385-406, July.
- T. D. Stanley, 2005. "Beyond Publication Bias," Journal of Economic Surveys, Wiley Blackwell, vol. 19(3), pages 309-345, 07.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:60:y:2006:i:2:p:351-360. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.