Systematic Variation in Willingness to Pay for Agricultural Land Preservation and Implications for Benefit Transfer: A Meta-Analysis

Abstract

Despite prior studies examining willingness to pay for farmland preservation there has been no quantitative, systematic analysis of findings across the literature. This paper presents the first statistical meta-analysis of farmland preservation values. Results confirm systematic variations in willingness to pay, with value surfaces corresponding to theoretical expectations. Findings also provide significant insight into the potential for valid meta-analytic, function based benefit transfer. Results suggest, for example, that transfer validity is critically dependent on jurisdictional scale. Transfer errors are modest for community scale farmland preservation, but large for state scale preservation policies in which per acre welfare estimates are small.