Choice Modelling and the Transfer of Environmental Values

Benefit transfer is the practice of estimating economic values at a target site by utilising the results of existing studies for different sites. It is commonly used to estimate values for changes in environmental conditions where time and cost factors constrain the direct application of non-market valuation techniques at the target site. The focus of this unique collection of case studies is the validity and accuracy of benefit transfer using choice modelling, rather than the traditional focus of transferring results from contingent valuation and travel cost models. The book includes a simple guide to using choice modelling results in a benefit transfer process, an overview of the theoretical issues involved, and a number of case studies from Australia, Finland, New Zealand, the UK and the US. The conclusion is that the benefit transfer process is not straightforward, but that use of the choice modelling technique allows for more 'automatic' adjustment of values by the factors that frame the case study of interest. This book will strongly appeal to a wide ranging readership, including academics, students and researchers involved in non-market valuation and benefit transfer research, policymakers requiring the use of benefit transfer in valuation studies, and consultants and researchers performing benefit transfer studies.