Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program

Peter Feather and Daniel Hellerstein

American Journal of Agricultural Economics, 1997, vol. 79, issue 1, 151-162

Abstract: Benefit transfer offers an inexpensive alternative to conducting an original study to determine economic value. Unfortunately, benefit transfers can also result in biased welfare estimates. In this paper, we suggest a method of calibrating the benefit transfer to reduce this bias. An empirical example to determine the benefits of the Conservation Reserve Program on water-based recreation illustrates the potentially large biases that can result if the transfer is not calibrated. Copyright 1997, Oxford University Press.

Date: 1997
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