The National Bureau of Economic Research Inc. (NBER) was awarded a $683,220 Cooperative Agreement from the National Oceanic and Atmospheric Administration (NOAA) under the Broad Agency Announcement (BAA) program (CFDA 11.015) to conduct research on the economic impact of weather forecasts, with a focus on atmospheric river (AR) events in the American West. The 2-year project, starting September 1, 2024, will employ novel microeconomic methods to quantify the value of improved precipitation forecasting for small businesses by examining variations in outcomes like sales and foot traffic across locations with well-forecasted versus poorly-forecasted weather conditions. The research aims to understand the average economic value of accurate weather forecasts and the specific conditions that drive higher or lower forecast value, across different industries and locations. This work is intended to help guide future investments in improving forecasting capabilities, particularly for high-impact events like ARs.
Generated 3/4/25, 7:39 AM