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.