Authors
Samuel Randalls
Publication date
2010/10
Journal
Social Studies of Science
Volume
40
Issue
5
Pages
705-730
Publisher
Sage Publications
Description
While many scholars researching the commercialization of science focus on biomedicine, this paper explores the changing commercial frameworks for meteorology in the UK and the US. The organization of meteorology in both countries increasingly reflects a political—economic approach that treats science as an economic entity in which market-based criteria can be used to allocate scientific resources. The differences are equally significant in terms of the production and dissemination of meteorological forecasts and other data to public and private services. Alongside this commercialization has been the emergence of weather derivatives markets — financial products that enable trading on weather indices in a way similar to oil or gas futures — which have re-shaped how some businesses interact with meteorologists. This paper explores how weather derivatives traders engage with, shape, and are frustrated by a …
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