Benefit Transfer from Multiple Contingent Experiments: A Flexible Two-Step Model Combining Individual Choice Data with Community Characteristics
This study proposes a new approach to utilize information from existing choice experiments to predict policy outcomes for a transfer setting. Recognizing the difficulties from pooling raw data from experiments with different designs and sub-populations we first re-estimate all underlying Random Utility Models individually, and then combine them in a second stage process to form a weighted mixture density for the generation of policy-relevant welfare estimates. Using data from recent choice experiments on farmland preservation we illustrate that our strategy is more robust to transfer inaccuracies than single-site approaches. The specification of "intelligent" mixture weights will be a fruitful ground for future research in the area of Benefit Transfer.
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Volume (Year): 91 (2009)
Issue (Month): 5 ()
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- Johnston, Robert J. & Duke, Joshua M. & Kukielka, Jessica B., 2008. "Optimizing Farmland Preservation Choices Across Communities and Jurisdictional Scales: To What Extent are Amenity Values and Selection Criteria Transferable?," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6243, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Layton, David F. & Levine, Richard A., 2003. "How Much Does the Far Future Matter? A Hierarchical Bayesian Analysis of the Public's Willingness to Mitigate Ecological Impacts of Climate Change," Journal of the American Statistical Association, American Statistical Association, vol. 98, pages 533-544, January.
- Hausman, Jerry A & Wise, David A, 1978.
"A Conditional Probit Model for Qualitative Choice: Discrete Decisions Recognizing Interdependence and Heterogeneous Preferences,"
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- J. A. Hausman & D. A. Wise, 1976. "A Conditional Profit Model for Qualitative Choice: Discrete Decisions Recognizing Interdependence and Heterogeneous Preferences," Working papers 173, Massachusetts Institute of Technology (MIT), Department of Economics.
- Robert J. Johnston & Joshua M. Duke, 2009. "Willingness to Pay for Land Preservation across States and Jurisdictional Scale: Implications for Benefit Transfer," Land Economics, University of Wisconsin Press, vol. 85(2), pages 217-237.
- Mark Morrison & Jeff Bennett, 2004.
"Valuing New South Wales rivers for use in benefit transfer,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 48(4), pages 591-611, December.
- Morrison, Mark & Bennett, Jeffrey W., 2004. "Valuing New South Wales rivers for use in benefit transfer," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(4), December.
- Robert Johnston, 2007. "Choice experiments, site similarity and benefits transfer," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 38(3), pages 331-351, November.
- Kukielka, Jessica B. & Johnston, Robert J. & Duke, Joshua M., 2008. "Systematic Variation in Willingness to Pay for Agricultural Land Preservation and Implications for Benefit Transfer: A Meta-Analysis," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6121, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- 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.
- Edward Morey & Kathleen Rossmann, 2008. "Calculating, With Income Effects, the Compensating Variation for a State Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 39(2), pages 83-90, February.
- Robert J. Johnston & Elena Y. Besedin & Richard Iovanna & Christopher J. Miller & Ryan F. Wardwell & Matthew H. Ranson, 2005. "Systematic Variation in Willingness to Pay for Aquatic Resource Improvements and Implications for Benefit Transfer: A Meta-Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 53(2-3), pages 221-248, 06.
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