Abstract
Agricultural production and water resources are sensitive to climate variability and change. Decadal climate variability (DCV) phenomena are in the early stages of being explored. This paper investigates the economic value of DCV information in the Edwards Aquifer region of Texas as well as possible adaptation to that information. To do this we first do an econometric estimate of the impacts of DCV phase combinations on crop yields in the EA region, then we alter regional model to include DCV information. We find that the average economic value of perfect DCV information forecast is $40.76 million per year. And for a less perfect forecast in terms of knowing DCV information under transition probability, the average economic value is around $1.52 million per year.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
