Testing the stability of the benefit transfer function for discrete choice contingent valuation data
We examine the stability of the benefit transfer function across 42 recreational forests in the British Isles. A working definition of reliable function transfer is put forward, and a suitable statistical test is provided. The test is based on the sensitivity of the model log-likelihood to removal of individual forest recreation sites. We apply the proposed methodology on discrete choice contingent valuation data and find that a stable function improves our measure of transfer reliability, but not by much. We conclude that, in empirical studies on transferability, function stability considerations are secondary to the availability and quality of site attribute data. Modellers’ can study the advantages of transfer function stability vis-à-vis the value of additional information on recreation site attributes.
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Volume (Year): 15 (2009)
Issue (Month): 1-2 (January)
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- Scarpa, Riccardo & Chilton, Susan M. & Hutchinson, W. George & Buongiorno, Joseph, 2000.
"Valuing the recreational benefits from the creation of nature reserves in Irish forests,"
Elsevier, vol. 33(2), pages 237-250, May.
- Riccardo Scarpa & Susan M. Chilton & W. George Hutchinson & Joseph Buongiorno, 1999. "Valuing the Recreational Benefits From the Creation of Nature Reserves in Irish Forests," Working Papers 1999.11, Fondazione Eni Enrico Mattei.
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- Dadi Kristofersson & Ståle Navrud, 2005. "Validity Tests of Benefit Transfer – Are We Performing the Wrong Tests?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 30(3), pages 279-286, March.
- Small, Kenneth A & Hsiao, Cheng, 1985. "Multinomial Logit Specification Tests," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(3), pages 619-627, October.
- Roberto Leon-Gonzalez & Riccardo Scarpa, 2007. "Robust Benefit Function Transfer: A Bayesian Model Averaging Approach," Discussion Papers in Economics 07/01, Department of Economics, University of Leicester.
- Scarpa, Riccardo & Hutchinson, W. George & Chilton, Susan M. & Buongiorno, Joseph, 2000. "Importance of forest attributes in the willingness to pay for recreation: a contingent valuation study of Irish forests," Forest Policy and Economics, Elsevier, vol. 1(3-4), pages 315-329, December. Full references (including those not matched with items on IDEAS)
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