Economic Value of Weather and Climate Forecasts

Examines how weather and climate forecasts can be used to mitigate the impact of weather extremes on the economy.

Richard W. Katz (Edited by), Allan H. Murphy (Edited by)

9780521435710, Cambridge University Press

Paperback, published 8 September 2005

240 pages, 24 b/w illus. 28 tables
22.9 x 15.3 x 1.6 cm, 0.369 kg

"...this book contains a lot of highly useful, basic information and concepts, especially on forecast quality assessments, and points out ways to translate these assessments into `value' concepts." Elmar R. Reiter, Meteorology & Atmosphere Physics

Weather and climate extremes can significantly impact the economics of a region. This book examines how weather and climate forecasts can be used to mitigate the impact of the weather on the economy. Interdisciplinary in scope, it explores the meteorological, economic, psychological, and statistical aspects to weather prediction. The contributors encompass forecasts over a wide range of temporal scales, from weather over the next few hours to the climate months or seasons ahead, and address the impact of these forecasts on human behaviour. Economic Value of Weather and Climate Forecasts seeks to determine the economic benefits of existing weather forecasting systems and the incremental benefits of improving these systems, and will be an interesting and essential reference for economists, statisticians, and meteorologists.

Preface
1. Weather prediction Joseph J. Tribbia
2. Forecast verification Allan H. Murphy
3. The value of weather information Stanley R. Johnson and Matthew T. Holt
4. Forecast value: prescriptive decision studies Daniel S. Wilks
5. Forecast value: descriptive decision studies Thomas R. Stewart
6. Forecast value: prototype decision-making models Richard W. Katz and Allan H. Murphy
Index.

Subject Areas: Meteorology & climatology [RBP], Environmental economics [KCN]