|
AgEcon Search >
Journal of Agricultural and Resource Economics >
Volume 25, Number 02, December 2000 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/30887
|
| Title: | THE VALUE OF ENSO INFORMATION TO AGRICULTURE: CONSIDERATION OF EVENT STRENGTH AND TRADE |
| Authors: | Chen, Chi-Chung
McCarl, Bruce A. |
| Issue Date: | 2000-12 |
| Abstract: | The agricultural value of El Nino-Southern Oscillation (ENSO) phase knowledge is measured in a value-of-information framework using economic models. We examine the value of considering the full distribution of ENSO phase strength effects as opposed to average ENSO phase strength effects, as well as the implications of considering ENSO impacts on the rest of the world (ROW). A stochastic U.S. agricultural sector model linked with a global trade model is used to assess the value of ENSO phase information. When the full distribution of ENSO phase strength is considered, the value of phase information increases twofold with respect to the average ENSO effects. |
| URI: | http://purl.umn.edu/30887 |
| Institution/Association: | Journal of Agricultural and Resource Economics>Volume 25, Number 02, December 2000 |
| Total Pages: | 18 |
| Language: | English |
| From Page: | 368 |
| To Page: | 385 |
| Collections: | Volume 25, Number 02, December 2000
|
Files in This Item:
| File |
Size | Format |
|---|
| 25020368.pdf | 1049Kb | PDF | View/Open |
|
Recommend this item
All items in AgEcon Search are protected by copyright.
|
