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Benefit transfer studies: Myths, pragmatism, and idealism
Author(s) -
Boyle Kevin J.,
Bergstrom John C.
Publication year - 1992
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/91wr02591
Subject(s) - policy transfer , valuation (finance) , public policy , public economics , pragmatism , positive economics , government (linguistics) , political science , management science , economics , public administration , operations research , epistemology , engineering , accounting , law , philosophy , linguistics
Benefit transfer has been an ongoing, practical analysis for years in legal proceedings and government policy analyses where timely benefit estimates are critically dependent on the use of existing data. Most benefit transfer studies to date have been conducted behind closed doors and have not been open to scholarly review, and no systematic research agenda has been established to determine whether benefit transfer estimates are valid for public policy analyses. In this paper we propose a systematic, conceptual foundation for conducting benefit transfer studies, and suggest a research agenda to identify conditions under which valid benefit transfer estimates can be derived. We conclude, however, that this research agenda must be accompanied by improved conduct and reporting of original valuation studies before benefit transfer can become a widely used tool in public policy analyses.