Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program
American Journal of Agricultural Economics, January 1997
28 Pages Posted: 21 Oct 1999
Benefit transfer is a quick and inexpensive alternative to conducting an original study to determine economic value. Although this practice is attractive, it can result in biased welfare estimates. This paper proposes a method of calibrating benefit transfers in order 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 may result if the transfer is not calibrated.
Note: This is a description of the paper and is not the actual abstract.
JEL Classification: Q25
Suggested Citation: Suggested Citation