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Benefits Transfer: Current Practice and Prospects

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  • V. Kerry Smith

    (Arizona State University)

Abstract

This paper introduces a special issue devoted to the benefits transfer methods used as part of benefit costs analysis for policy analysis. Benefits transfer methods, as they are applied for environmental policy analyses, use economic concepts together with existing empirical estimates to predict the incremental benefits from a change in some feature of an environmental resource. After giving two examples of the decisions that analysts confront in performing these analyses, I discuss the interconnections between the papers in this issue and the research challenges that emerged from discussions of them.

Suggested Citation

  • V. Kerry Smith, 2018. "Benefits Transfer: Current Practice and Prospects," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(3), pages 449-466, March.
    • Handle: RePEc:kap:enreec:v:69:y:2018:i:3:d:10.1007_s10640-017-0206-8
    DOI: 10.1007/s10640-017-0206-8
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    References listed on IDEAS

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    1. Dudley, Susan & Belzer, Richard & Blomquist, Glenn & Brennan, Timothy & Carrigan, Christopher & Cordes, Joseph & Cox, Louis A. & Fraas, Arthur & Graham, John & Gray, George & Hammitt, James & Krutilla, 2017. "Consumer’s Guide to Regulatory Impact Analysis: Ten Tips for Being an Informed Policymaker," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 8(2), pages 187-204, July.
    2. Muller, Nicholas Z. & Mendelsohn, Robert, 2007. "Measuring the damages of air pollution in the United States," Journal of Environmental Economics and Management, Elsevier, vol. 54(1), pages 1-14, July.
    3. Raymond J. Kopp & V. Kerry Smith, 1989. "Benefit estimation goes to court: The case of natural resource damage assessments," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 8(4), pages 593-612.
    4. 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.
    5. Larson, Douglas M., 1992. "Further results on willingness to pay for nonmarket goods," Journal of Environmental Economics and Management, Elsevier, vol. 23(2), pages 101-122, September.
    6. Muller Nicholas Z, 2011. "Linking Policy to Statistical Uncertainty in Air Pollution Damages," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-29, June.
    7. Hausman, Jerry A, 1981. "Exact Consumer's Surplus and Deadweight Loss," American Economic Review, American Economic Association, vol. 71(4), pages 662-676, September.
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    Cited by:

    1. Andrea Ghermandi & John Agard & Paulo A. L. D. Nunes, 2018. "Applying Geographic Information Systems to ecosystem services valuation and mapping in Trinidad and Tobago," Letters in Spatial and Resource Sciences, Springer, vol. 11(3), pages 289-306, October.
    2. Daniel R. Petrolia & Dennis Guignet & John Whitehead & Cannon Kent & Clay Caulder & Kelvin Amon, 2021. "Nonmarket Valuation in the Environmental Protection Agency's Regulatory Process," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(3), pages 952-969, September.
    3. Robert J. Johnston & Kevin J. Boyle & Maria L. Loureiro & Ståle Navrud & John Rolfe, 2021. "Guidance to Enhance the Validity and Credibility of Environmental Benefit Transfers," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 79(3), pages 575-624, July.

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