For several years now the European Association of Environmental and Resource Economists (EAERE) has awarded a prize at its annual conference, generously donated by Springer, for the best paper published within its journal Environmental and Resource Economics (ERE). In determining this award, a panel consisting of the ERE Editor, Ian Bateman, and Co-Editors Hassan Benchekroun and Christian Vossler, evaluates all papers published by the journal over the previous calendar year. We are pleased to announce that the 2014 best paper award goes to:
Robert J. Johnston and Klaus Moeltner, “Meta-Modeling and Benefit Transfer: The Empirical Relevance of Source-Consistency in Welfare Measures”.
This excellent and innovative paper applies Bayesian techniques to examine the empirical compatibility of pooling Marshallian and Hicksian welfare estimates within valuation meta-analyses. Using two independent data sets on outdoor recreation and sport fishing activities across multiple locations, the authors demonstrate methods for examining when the pooling of data across welfare measures is defensible. Results reveal the substantial efficiency losses associated with failure to pool measures when appropriate. Taken together, the paper demonstrates a superb level of econometric analysis, delivering a major contribution to the valuation literature and demonstrating the use of techniques which have applicability across a range of metadata contexts.
Congrats to Rob and Klaus!
And how can I make this about me and Tim? Well, for starters, we have papers with willingness to pay estimates that are included the data.