Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program

Daniel Hellerstein and Peter Feather

MPRA Paper from University Library of Munich, Germany

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.

Keywords: benefit transfer; Conservation Reserve Program; double hurdle model; random utility model; soil erosion. (search for similar items in EconPapers)
JEL-codes: Q51 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (46)

Published in American Journal of Agricultural Economics 79.1(1997): pp. 151-162

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Journal Article: Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:25357

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