We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

Key methodologies used for managing weather risks have relied on the assumption that climate is not changing and that the historic weather record is therefore representative of current risks. Anthropogenic climate change upends this assumption, effectively reducing the information available to...

Climate change increases weather variability, exacerbating agricultural risk in poor countries. Risk-averse farmers are unable to tailor their planting decisions to the coming season, and underinvest in profitable inputs. Accurate, long-range forecasts enable farmers to optimize for the season...

We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

This paper reviews methods that have been used to statistically measure the effect of climate on economic value, using historic data on weather, climate, economic activity and other variables. This has been an active area of research for several decades, with many recent developments and...

This paper reviews methods that have been used to statistically measure the effect of climate on economic value, using historic data on weather, climate, economic activity and other variables. This has been an active area of research for several decades, with many recent developments and...

Forecasting based pricing of Weather Derivatives (WDs) is a new approach in valuation of contingent claims on nontradable underlyings. Standard techniques are based on historical weather data. Forward-looking information such as meteorological forecasts or the implied market price of risk (MPR)...

The growing availability of free or inexpensive satellite imagery has inspired many researchers to investigate the use of earth observation data for monitoring economic activity around the world. One of the most popular earth observation data sets is the so-called nighttime lights from the...

The aim of this paper is to model the decisions of tourists and a monopolist firm when weather forecasts are available. Before deciding whether to go on holiday or not, but after the firm has decided and posted its price, tourists can look at weather forecasts. Our results show that the price...

The growing availability of free or inexpensive satellite imagery has inspired many researchers to investigate the use of earth observation data for monitoring economic activity around the world. One of the most popular earth observation data sets is the so-called nighttime lights from the...

In recent years we witnessed a rapid growth of weather derivatives market. These derivatives are used to hedge energy contracts and distribute weather risk. While most derivative markets are complete and contingent climes replications are standard procedure, this special market is incomplete,...

This work presents the conditioned upscaling procedure applied in the Po-FEWS system by Hydrology area of ARPA SIMC Emilia Romagna to select the rainfall daily scenarios which better fit seasonal meteorological forecasts. Seasonal meteorological forecast provides qualitatively useful information...

Forecasting based pricing of Weather Derivatives (WDs) is a new approach in valuation of contingent claims on nontradable underlyings. Standard techniques are based on historical weather data. Forward-looking information such as meteorological forecasts or the implied market price of risk (MPR)...

This paper reviews the status of weather and climate services in Europe and Central Asia (ECA).Worldwide, the accuracy and value of weather and climate services are rising, bringing great economic benefits. However, many National Meteorological and Hydrological Services (NMHSs) in Europe and...

We take a simple time-series approach to modeling and forecasting daily average temperature in U.S. cities, and we inquire systematically as to whether it may prove useful from the vantage point of participants in the weather derivatives market. The answer is, perhaps surprisingly, yes....

The growing availability of free or inexpensive satellite imagery has inspired many researchers to investigate the use of earth observation data for monitoring economic activity around the world. One of the most popular earth observation data sets is the so-called nighttime lights from the...

In the literature the effects of weather on electricity sales are well-documented. However, studies that have investigated the impact of weather on electricity prices are still scarce (e.g. Knittel and Roberts, 2005), partly because the wholesale power markets have only recently been...

We take a simple time-series approach to modeling and forecasting daily average temperature in U.S. cities, and we inquire systematically as to whether it may prove useful from the vantage point of participants in the weather derivatives market. The answer is, perhaps surprisingly, yes....