How do decision makers weight private and official information sources which are correlated and differ in accuracy and bias? This paper studies how traders update subjective risk perceptions after receiving expert opinions, using a unique data set from a prediction market, the Hurricane Futures...

A stochastic production frontier was used to measure the initial (i.e., bi-weekly) economic effects of hurricanes on commercial grouper (Serranidae) production in the Exclusive Economic Zone of the United States Gulf of Mexico from 2005 to 2009. We estimated the economic effects of productivity...