Environ Resource Econ (2018) 69:449–466
Beneﬁts Transfer: Current Practice and Prospects
V. Kerry Smith
Accepted: 1 December 2017 / Published online: 5 January 2018
© Springer Science+Business Media B.V., part of Springer Nature 2018
Abstract This paper introduces a special issue devoted to the beneﬁts transfer methods used
as part of beneﬁt costs analysis for policy analysis. Beneﬁts transfer methods, as they are
applied for environmental policy analyses, use economic concepts together with existing
empirical estimates to predict the incremental beneﬁts from a change in some feature of an
environmental resource. After giving two examples of the decisions that analysts confront
in performing these analyses, I discuss the interconnections between the papers in this issue
and the research challenges that emerged from discussions of them.
Keywords Beneﬁt cost analysis · Regulatory impact analysis · Beneﬁt transfer
This special issue of Environmental and Resource Economics was designed to expand the
conceptual and empirical methods used in beneﬁts transfer. All the papers are about using
transfers as part of the beneﬁt cost analyses for evaluating environmental regulations. My
Guest Editor: V. Kerry Smith.
The research discussed in the papers in this special issue was funded by the United States Environmental
Protection Agency through contract No. EP-C-13-039 to Abt Associates Inc. This research has not been
subject to the Agency’s formal review process and therefore does not necessarily reﬂect the views of the
Agency. The ﬁndings, conclusions, and views expressed in the papers in this special issue are those of the
authors and do not necessarily represent those of the U.S. EPA. No Agency endorsement should be inferred.
Thanks are due Elena Besedin for contributing to all aspects of the research design, implementation, and
organization of the conference at the end of the process. Thanks are also due all the discussants and panelists
who participated in the workshop. They are listed in the appendix with the program. I especially appreciate
Kevin Boyle’s help with this introduction. He provided a careful and detailed review as well as a number of
constructive suggestions for improving it, but should not be held responsible for what resulted.
V. Kerry Smith
Arizona State University, Tempe, AZ, USA