Economic Value of Weather and Climate Forecasts


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 of weather prediction. Chapters by area specialists provide a comprehensive view of this timely topic. They 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 behavior. 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 text for economists, statisticians, and meteorologists.


 Reviews:

"...this book has a strong, quantitative flavor oriented to statistical approaches and methods for verifying forecasts and for optimal forecast evaluation procedures. For those specializing in forecast evaluations with an economic decision-oriented flavor, this book will be very useful." Stanley A. Changnon, Bulletin of the American Meteorological Society

"...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