Assessing the Economic Impacts of Weather and Value of Weather Forecasts

Understanding the socio-economic impacts of weather provides a basis for prioritizing actions to mitigate and respond to weather events and understanding the value of improvements in weather forecasts. In this talk I’ll discuss four different topics in the economics of weather and weather forecasts: (1) the economic impacts of weather, (2) the value of current forecasts, (3) the value of improved forecasts, and (4) the value of research to improve forecasts. In each topic area I’ll present one or more applications of empirical research, discuss the theoretical and conceptual basis of the methods and results, and the potential use of information from such research in policy and decision making. I’ll briefly present results from other studies illustrating a range of applications of economics to weather impacts and weather forecasting as well as interdisciplinary ties to related social sciences such as communication and psychology. While the primary focus is weather related, I’ll note that the methods and applications can be extended to issues in the water and climate arenas as well.

About the presenter
Presenter(s): 
Jeffrey K. Lazo

Affiliation or organization:

Where

Building:

Room: 
1022

Lab/division or program:

Type of event:

When
Date and time: 
Tuesday, March 26, 2013 - 9:30am