Non-market Valuation Databases: How Useful are They?

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Abstract

The use of benefit transfer has in the past been restricted by a shortage of original non-market valuation estimates. However. in recent years several non-market valuation databases have been developed to facilitate the use of benefit transfer. This paper describes three of these databases. The question is raised regarding what would be the ideal characteristics of a non· market valuation database. Eight characteristics are suggested. and are used to evaluate the three databases. It is concluded that the greatest strength of the databases is in alerting analysts to the existence of studies that are potentially suitable for use in benefit transfer. However, the databases are limited in several respects. Because of underreporting of specific information. analysts will need to obtain copies of original studies to perform rigorous benefit transfer.
Original languageEnglish
Pages (from-to)33-56
Number of pages24
JournalEconomic Analysis and Policy
Volume31
Issue number1
Publication statusPublished - 2001

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