Choice modelling and tests of benefit transfer
Benefit transfer is increasingly being used by decision makers as a way of estimating environmentalvalues suitable for use in benefit cost analysis. However, recent studies examining the validityof benefit transfer of passive use values estimated using contingent valuation have rejected thehypothesis of convergent validity. In this article, we demonstrate the usage of a form of conjointanalysis known as choice modeling for benefit transfer. Choice modeling has been touted as beingparticularly suitable for benefit transfer because it is possible to allow for differences in environmentalquality and socioeconomic characteristics when transferring benefit estimates. We demonstratethat choice modeling is suitable for benefit transfer, particularly when the transfers involve implicitprices. Second, we examine the circumstances in which benefit transfer of choice modeling derivedvalue estimates is likely to be most valid. Two split sample tests were undertaken to achieve thisobjective. The evidence from these tests indicates that transfers across different case study sites arelikely to be subject to less error than those across different populations.
Year of publication: |
2005
|
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Authors: | Bennett Jeff ; Morrison Mark ; Louviere Jordan ; Blamey Russell |
Publisher: |
Blackwell Publishing |
Saved in:
freely available
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