The Role of Benefit Transfer in Ecosystem Service Valuation
Richardson, L., J. Loomis, T. Kroeger and F. Casey
Richardson, L., J. Loomis, T. Kroeger and F. Casey. 2015. The Role of Benefit Transfer in Ecosystem Service Valuation. Ecological Economics. 115: 51–58.
The demand for timely monetary estimates of the economic value of nonmarket ecosystem goods and services has steadily increased over the last few decades. This article describes the use of benefit transfer to generate monetary value estimates of ecosystem services specifically. The article provides guidance for conducting such benefit transfers and summarizes advancements in benefit transfer methods, databases and analysis tools designed to facilitate its application.