Valuing Improved Hurricane Forecasts

4 Pages Posted: 4 Mar 2012

See all articles by Jeffrey Karl Lazo

Jeffrey Karl Lazo

Jeffrey K Lazo Consulting LLC

Donald Waldman

University of Colorado at Boulder - Department of Economics

Date Written: 2010

Abstract

The value to households of improved hurricane forecasts is estimated from a pilot survey using discrete choice econometric methods. Each household is willing to pay approximately $13 for improvements in forecast attributes such as landfall time and position, wind speed, and storm surge.

Keywords: Hurricane, Discrete choice analysis, Value of information

JEL Classification: H41, C25, D81

Suggested Citation

Lazo, Jeffrey Karl and Waldman, Donald, Valuing Improved Hurricane Forecasts (2010). Economics Letters, Vol. 111, p. 43, 2010, Available at SSRN: https://ssrn.com/abstract=2015495

Jeffrey Karl Lazo (Contact Author)

Jeffrey K Lazo Consulting LLC ( email )

656 Tomichi Trail
Gunnison, CO 81230
United States
3035178064 (Phone)
81230 (Fax)

HOME PAGE: http://https://jeffreyklazo.com/

Donald Waldman

University of Colorado at Boulder - Department of Economics ( email )

Campus Box 256
Boulder, CO 80309
United States

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