Valuing Improved Hurricane Forecasts
4 Pages Posted: 4 Mar 2012
Date Written: 2010
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: 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
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