1. Introduction -- 2. Economic criteria for water allocation and valuation -- 3. Water as an economic good -- 4. Appraising flood control investments in the UK -- 5. Cost-benefit analysis and flood control policy in the Netherlands -- 6. Cost-benefit analysis of river restoration in Denmark --...

We develop and test guidance principles for benefits transfers. These argue that when transferring across relatively similar sites, simple mean value transfers are to be preferred but that when sites are relatively dissimilar then value function transfers will yield lower errors. The paper also...