State of Knowledge of Economic Value of Current and Improved Hurricane Forecasts

Daniel Sutter, Bradley T. Ewing

Research output: Contribution to journalReview articlepeer-review

Abstract

This paper surveys the literature on the value of current and potentially improved hurricane forecasts from the National Hurricane Center. Research on the societal impacts of hurricanes demonstrates that forecasts are likely generating substantial benefits to society in a variety of uses, including saving lives in the U. S. and across the Carribean and Eastern Pacific, reducing the cost of evacuations, improving supply chain management, and in the transportation and energy production and distribution sectors. The existing literature, however, fails generally to quantify the benefits with rigor sufficient for an academic quality benefit-cost analysis of hurricane forecasts. The paper offers several suggestions for future research to more precisely estimate the benefits attributable to current or improved forecasts.

Original languageEnglish
Pages (from-to)45-64
Number of pages20
JournalJournal of Business Valuation and Economic Loss Analysis
Volume11
Issue number1
DOIs
StatePublished - Jun 1 2016

Fingerprint Dive into the research topics of 'State of Knowledge of Economic Value of Current and Improved Hurricane Forecasts'. Together they form a unique fingerprint.

Cite this