The economic value of long-range weather prediction is measured by the increase in social welfare arising from the use of the prediction in economic decisionmaking. This paper describes a study of the economic value of ENSO prediction to U.S. agriculture. The study involved the analysis of data and models from meteorology, plant science, and economics under a framework based on Bayesian decision analysis.

Author names: 
Solow, A.R.
Adams, R.F.
Bryant, K.J.
Legler, D.M.
O'Brien, J.J.
McCarl, B.A.
Nayda, W.
Weiher, R.
Year: 
1998
Publisher: 
Climatic Change
Reference: 

Solow, A.R., Adams, R.F., Bryant, K.J., Legler, D.M., O'Brien, J.J., McCarl, B.A., Nayda, W., and Weiher, R. (1998). The value of improved ENSO prediction to U.S. agriculture. Climatic Change, 39, 47-60.

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