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A Bayesian model for benefit transfer: application to national parks in Spain

Author

Listed:
  • C. J. Leon
  • F. J. Vazquez-Polo
  • N. Guerra
  • P. Riera

Abstract

Valuing environmental goods through benefit transfer is based on information from the set of past empirical studies of similar or identical sites. This paper proposes a Bayesian approach to model prior information on mean consumer surplus. The prior distribution is defined as a convex combination of the results from past empirical studies. An advantage of the Bayesian approach is that the prior distribution could be combined with on-site sample information in order to improve predictions on the benefits of the policy site. The model is applied to data from national parks in Spain. The results show that the benefits of policy sites are more sensitive to the prior information for smaller sample sizes. This implies that the prior distribution can be seen as a substitute for on-site sample information.

Suggested Citation

  • C. J. Leon & F. J. Vazquez-Polo & N. Guerra & P. Riera, 2002. "A Bayesian model for benefit transfer: application to national parks in Spain," Applied Economics, Taylor & Francis Journals, vol. 34(6), pages 749-757.
    • Handle: RePEc:taf:applec:v:34:y:2002:i:6:p:749-757
    DOI: 10.1080/00036840110054026
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    Citations

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    Cited by:

    1. Jorge E. Araña & Carmelo J. Léon, 2006. "Modelling contingent valuation iterated elicitation data with an MCMC approach," Hacienda Pública Española / Review of Public Economics, IEF, vol. 177(2), pages 83-105, April.
    2. Wilson, Matthew A. & Hoehn, John P., 2006. "Valuing environmental goods and services using benefit transfer: The state-of-the art and science," Ecological Economics, Elsevier, vol. 60(2), pages 335-342, December.
    3. Moeltner, Klaus & Boyle, Kevin J. & Paterson, Robert W., 2007. "Meta-analysis and benefit transfer for resource valuation-addressing classical challenges with Bayesian modeling," Journal of Environmental Economics and Management, Elsevier, vol. 53(2), pages 250-269, March.
    4. Leon-Gonzalez, Roberto & Scarpa, Riccardo, 2008. "Improving multi-site benefit functions via Bayesian model averaging: A new approach to benefit transfer," Journal of Environmental Economics and Management, Elsevier, vol. 56(1), pages 50-68, July.
    5. Masiero, Mauro & Franceschinis, Cristiano & Mattea, Stefania & Thiene, Mara & Pettenella, Davide & Scarpa, Riccardo, 2018. "Ecosystem services’ values and improved revenue collection for regional protected areas," Ecosystem Services, Elsevier, vol. 34(PA), pages 136-153.
    6. Morrison, Mark & Bergland, Olvar, 2006. "Prospects for the use of choice modelling for benefit transfer," Ecological Economics, Elsevier, vol. 60(2), pages 420-428, December.
    7. Klaus Moeltner & Richard Woodward, 2009. "Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(1), pages 89-108, January.
    8. Robert J. Johnston & Randall S. Rosenberger, 2010. "Methods, Trends And Controversies In Contemporary Benefit Transfer," Journal of Economic Surveys, Wiley Blackwell, vol. 24(3), pages 479-510, July.

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