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標題: The value of ENSO information to agriculture: Consideration of event strength and trade
作者: Chen, C.C.
McCarl, B.A.
關鍵字: agricultural sector model (ASM);El Nino-Southern Oscillation (ENSO);spatial equilibrium model;stochastic programming;value of information;us
Project: Journal of Agricultural and Resource Economics
期刊/報告no:: Journal of Agricultural and Resource Economics, Volume 25, Issue 2, Page(s) 368-385.
The agricultural value of 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.
ISSN: 0162-1912
Appears in Collections:應用經濟學系

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