Environmental and Resource Economics

, Volume 22, Issue 1, pp 271-296

First online:

Is Meta-Analysis a Noah's Ark for Non-Market Valuation?

  • V. Kerry SmithAffiliated withDepartment of Agricultural and Resource Economics, North Carolina State University RaleighResources for the Future
  • , Subhrendu K. PattanayakAffiliated withRII International Research Triangle ParkDepartment of Forestry, North Carolina State University

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This paper describes meta-analytical methods as they have been appliedto non-market valuation research. These studies have been used to reviewand synthesize literature and, more recently, in benefit transfer. Thissecond use imposes a higher standard on the consistency in economicconcepts being summarized and in the resources included in ameta-analysis. To meet this need, the paper proposes and illustrates astructural framework using a generalized method of moments estimator toestimate the parameters of a preference function with the benefitsestimates usually encountered in meta-analytic summaries.

benefit transfer meta-analysis