Authors
Francisco J Meza, James W Hansen, Daniel Osgood
Publication date
2008/5
Source
Journal of applied meteorology and climatology
Volume
47
Issue
5
Pages
1269-1286
Description
Advanced information in the form of seasonal climate forecasts has the potential to improve farmers’ decision making, leading to increases in farm profits. Interdisciplinary initiatives seeking to understand and exploit the potential benefits of seasonal forecasts for agriculture have produced a number of quantitative ex-ante assessments of the economic value of seasonal climate forecasts. The realism, robustness, and credibility of such assessments become increasingly important as efforts shift from basic research toward applied research and implementation. This paper surveys published evidence about the economic value of seasonal climate forecasts for agriculture, characterizing the agricultural systems, approaches followed, and scales of analysis. The climate forecast valuation literature has contributed insights into the influence of forecast characteristics, risk attitudes, insurance, policy, and the scale of …
Total citations
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