Basic goal of benefit transfer is to estimate benefits for
one context by adapting an estimate of
benefits from some other context.
More rigorous
approach involves transferring a benefit function from another study.
Different standards
for benefit transfer may be applied in different contexts.
Higher standard of accuracy may be
required when the costs of making a poor decision are higher.
Benefit transfer method is most reliable
when the original site and the study site are very similar in terms of factors such as
quality, location, and population characteristics;
when the environmental change is very similar for the two sites; and when the original valuation study was
carefully conducted and used sound valuation techniques.