Improving value transfer through socio-economic adjustments in a multicountry choice experiment of water conservation alternatives
Thijs Dekker (),
Davide Viaggi (),
John Rolfe and
Australian Journal of Agricultural and Resource Economics, 2015, vol. 59, issue 3
This study tests the transferability of the nonmarket values of water conservation for domestic and environmental purposes across three south European countries and Australia applying a common choice experiment design. Diﬀerent approaches are followed to test the transferability of the estimated values, aiming to minimise transfer errors for use in policy analysis, comparing both single- and multicountry transfers, with and without socio-economic adjustments. Within Europe, signiﬁcant diﬀerences are found between implicit prices for environmental water use, but not for domestic water use. In the Australian case study, alleviating restrictions on domestic water use has no signiﬁcant value. Pooling the three European samples improves the transferability of the environmental ﬂow values between Europe and Australia. Results show that a reduction in transfer error is achieved when controlling for unobserved and observed preference heterogeneity in the single- and multicountry transfers, providing additional support for the superiority of socio-economic adjustment procedures in value transfer.
Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:283214
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