Guide to COST-BENEFIT ANALYSIS of investment projects - Ramiri

BENEFIT TRANSFER – SELECTED REFERENCES FROM INTERNATIONAL LITERATUREAdamowicz, W., Louviere, J. and Williams, M., 1994. Combining revealed and stated preference methods for valuing environmental amenities.Journal of Environmental Economics and Management 26:271-292.Alberini, A., Cropper, M., Fu, T.-T., Krupnick, A. Liu, J.-T, Shaw, D. and Harrington W. 1997, Valuing health effect of air pollution indeveloping countries: the case of Taiwan, Journal of Environmental Economics and Management, 34 (2), 107-26Bergstrom, J.C. and De Civita, P., 1999. Status of Benefits Transfer in the United States and Canada: A Review, Canadian Journal of AgriculturalEconomics 47, pp. 79-87.Boyle, K. J. and Bergstrom, J. C., 1992. Benefit Transfer Studies: Myths, Pragmatism and Idealism, Water Resources Res. 28(3), pp. 657-663.Brouwer, R. and Bateman, I., 2005, The temporal stability of contingent WTP values, Water Resource Research, 4(3) W03017.Brouwer, R. and F. A. Spaninks, 1999. The Validity of Environmental Benefit Transfer: Further Empirical Testing, Environmental and ResourceEconomics, 14, pp. 95-117.Desvousges, W.H., Johnson, F.R. and Banzhaf, H., 1998. Environmental Policy Analysis with Limited Information: Principles and applicationsof the transfer method. Massachusetts: Edward Elgar.Downing, M., Ozuna Jr., T., 1996. Testing the Reliability of the Benefit Function Transfer Approach. Journal of Environmental Economics andManagement. 30(3), pp. 316-322.Garrod, G. and Willis, K., 1999, Benefit Transfer, in Economic Valuation of the Environment: Methods and Case Studies, Edward ElgarPublishing Limited, Cheltenham, UK.Kirchhoff, S., Colby, B.G. and LaFrance, J.F., 1997, Evaluation the Performance of Benefit Transfer: An Empirical Inquiry, Journal ofEnvironmental Economics and Management, 33, pp. 75-93.Kristofersson, D. and Navrud, S., 2001. Validity Tests of Benefit Transfer: Are We Performing the Wrong Tests?, Discussion Paper D-13/2001,Department of Economics and Social Sciences, Agricultural University of Norway.Leon, C.J., Vazquez-Polo, F.J., Guerra, N. and Riera, P., 2002, A Bayesian Model for Benefits Transfer: Application to National Parks in Spain,Applied Economics, 34, pp. 749-757.Lovett, A.A., Brainard, J.S. and Bateman, I.J., 1997, Improving Benefit Transfer Demand Functions: A GIS Approach, Journal ofEnvironmental Management, 51, pp. 373-389.Ready, R., Navrud, S., Day, B., Dubourg, R., Machado, F., Mourato, S., Spanninks F. and Vazquez, R., 2004. Benefits Transfer in Europe: AreValues Consistent Across Countries?, Environmental and Resource Economics, Volume 29, Number 1, pp. 67 - 82.Rosenberger, R., Loomis, S. and John, B., 2001. Benefit Transfer of Outdoor Recreation Use Values: A technical document supporting theForest Service Strategic Plan, (2000 revision). Gen. Tech. Rep. RMRS-GTR-72. Fort Collins, CO: U.S. Department of Agriculture, ForestService, Rocky Mountain Research Station.Silva, P. Pagiola, S., 2003, A Review of Valuation of Environmental Costs and Benefits in World Bank Projects, Environmental Economic SeriesNo.94, Environmental Department, Washington DC, the World BankClimate changeClimate change costs have a high level of complexity due to the fact that they are long-term and global and becauserisk patterns are very difficult to anticipate. As a result there are difficulties in valuing the damage caused. Therefore,a differentiated approach (looking both at the damage and the avoidance strategy) is necessary. In addition long-termrisks should be included.The climate change or global warming impacts on production and consumption activities are mainly caused byemissions of greenhouse gases carbon dioxide (CO 2 ), nitrous oxide (N 2 O) and methane (CH 4 ). To a smaller extent,emissions of refrigerants (hydro fluorocarbons) from Mobile Air Conditioners (MAC) also contribute to globalwarming.Climate change impacts have a special position in external cost assessment:- climate change is a global issue, so the impact of emissions is not dependent on the location of the emissions;- greenhouse gases, especially CO 2 , have a long lifetime in the atmosphere so that present emissions contribute toimpacts in the distant future;- the long-term impacts of continued emissions of greenhouse gases are especially difficult to predict butpotentially catastrophic.Scientific evidence on the causes and future paths of climate change is becoming increasingly consolidated. Inparticular, scientists are now able to attach probabilities to the temperature outcomes and impacts on the naturalenvironment associated with different levels of stabilisation of greenhouse gases in the atmosphere.The proportion of greenhouse gases in the atmosphere is increasing as a result of human activity; the sources aresummarised in this figure:228