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Q. What is Benefits transfer?
The process of transferring benefit estimates from past valuation studies to the present study, in order to reduce appraisal costs. The validity of the approach lies on the degree of similarity between the several studies, e.g. the environmental service or good being valued, the characteristics of the population and the robustness of the previous benefit estimates.
The Concept of Efficiency is stated below: To illustrate this concept of the efficiency, it is used to expand the understanding of what is meant by the Pareto-efficient allocat
demand curve
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