This paper proposes a new approach to benefit transfer. The method assumes a specific form for preferences and uses available benefit information to identify and calibrate the preference parameters to match the existing benefit estimates. This approach assures economic consistency of the...

The purpose of this paper is to describe the implications of the collective model of household behavior for the methods used to estimate the economic value of non-marketed environmental resources. After demonstrating how the separability restrictions inherent in the collective model allow...

Many economists argue that willingness-to-pay (WTP) measures are most appropriate for assessing the welfare effects of health changes. Nevertheless, the health evaluation literature is still dominated by studies estimating nonmonetary health status measures (HSMs), which are often used to assess...

We analyze EPA's cleanup decisions at over 100 Superfund sites and examine whether and how EPA trades off the cost against the permanence of cleanup. EPA's decisions reveal both a preference for permanent solutions and an aversion to cost. For example, EPA prefers incinerating soils to isolating...