Environ Resource Econ (2018) 69:467–481 https://doi.org/10.1007/s10640-017-0207-7 Beneﬁt Transfer Challenges: Perspectives from U.S. Practitioners 1 1 1 Stephen Newbold · R. David Simpson · D. Matthew Massey · 2 1 3 3 Matthew T. Heberling · William Wheeler · Joel Corona · Julie Hewitt Accepted: 1 December 2017 / Published online: 28 February 2018 © This is a U.S. Government work and not under copyright protection in the US; foreign copyright protection may apply 2018 Keywords Beneﬁt transfer · Water quality · Meta-analysis 1 Background The earliest use of beneﬁt–cost analysis (BCA) within the U.S. Federal government began in the 1930s when large public works projects, such as hydro-electric dams, highways, and harbors, were initiated as part of President Roosevelt’s New Deal programs to lift the U.S. economy out of the Great Depression (Hanley and Spash 1993; Hufschmidt 2000; Pearce 2002). While elementary principles of public works valuation had been laid down by Dupuit a century before, new theoretical underpinnings and empirical methods for measuring eco- nomic values of goods that were publicly provided were developed in this period (Banzhaf 2010). Later, in the 1960s and 70s, there was an increased emphasis on government efforts Guest Editor: V. Kerry Smith.
Environmental and Resource Economics – Springer Journals
Published: Feb 28, 2018
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