Testing for differences in benefit transfer values between state and regional frameworks

John Rolfe and Jill Windle

Australian Journal of Agricultural and Resource Economics, 2008, vol. 52, issue 2, 149-168

Abstract: Policy makers are often interested in transferring non-market estimates of environmental values from a 'source' study to predict economic values at a 'target' site. While most applications of the benefit transfer process involve an opportunistic search for suitable source studies, there are some examples available of more systematic approaches to developing a framework of values for benefit transfer processes. A key issue in developing such a framework is to deal with adjustment factors, where value estimates might vary systematically according to the context of the trade-offs. Previous research has identified that large differences in scope, such as between national and regional contexts, do affect values and hence benefit transfer. The research reported in this paper indicates that such differences are not significant for smaller scope variations, such as between state and regional contexts. These results provide some promise that systematic databases for benefit transfer can be developed. Copyright 2008 The Authors.Journal compilation 2008 Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Asia Pty Ltd.

Date: 2008
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