modelling, willingness to pay is elicited from experiments in which respondents are asked to rank preferences for different attributes of non-market goods or services. Benefits transfer methods – Useful if there are budget Can draw upon value estimates Sometimes viewed as a Adjustments of transferred A sufficiently similar study or Takes values from existing study and time constraints that from one or multiple other controversial method. values may be needed group of studies must have site(s) and then applies these to would make stated studies. (including inflation or already been undertaken Large transfer errors are a the policy site using either a preference surveys (above) exchange rates). that can then be drawn on. common problem (differences direct or function transfer unfeasible. in experimental design, data Function transfer methods method. Benefits transfer is Best used when study site collection, and econometric generally perform better used to inform policy and the characteristics are very models make comparison than direct transfer decision-making process at similar to the policy site difficult). methods as they allow for various stages, including characteristics. site specific adjustments to whether the extra expense of a May be limited NZ based studies be made. primary survey is warranted. to draw upon. Primary studies need to be Errors in the primary study are carefully screened for compounded. critical factors (site characteristics, population characteristics, how the research was framed). Modelling Inputs, resources, skills Method/technique When best used or avoided Strengths Weaknesses Assumptions, risks required
modelling, willingness to pay is elicited from experiments in which respondents are asked to rank preferences for different attributes of non-market goods or services. Benefits transfer methods – Takes values from existing study site(s) and then applies these to the policy site using either a direct or function transfer method. Benefits transfer is used to inform policy and the decision-making process at various stages, including whether the extra expense of a primary survey is warranted. Useful if there are budget and time constraints that would make stated preference surveys (above) unfeasible. Best used when study site characteristics are very similar to the policy site characteristics. Can draw upon value estimates from one or multiple other studies. Sometimes viewed as a controversial method. Large transfer errors are a common problem (differences in experimental design, data collection, and econometric models make comparison difficult). May be limited NZ based studies to draw upon. Errors in the primary study are compounded. Adjustments of transferred values may be needed (including inflation or exchange rates). Function transfer methods generally perform better than direct transfer methods as they allow for site specific adjustments to be made. Primary studies need to be carefully screened for critical factors (site characteristics, population characteristics, how the research was framed). A sufficiently similar study or group of studies must have already been undertaken that can then be drawn on. Modelling Method/technique When best used or avoided Strengths Weaknesses Assumptions, risks Inputs, resources, skills required
guide-to-section-32-of-resource-manangemnt-amendment-act-1991.docx