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Estimating the Value of an Early-Warning System

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Author Info
Michael J. Roberts
David Schimmelpfennig
Michael J. Livingston
Elizabeth Ashley

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Abstract

An early-warning system generates economic value to the extent that it improves decision making. The value of the information hinges on the degree to which a timely response, aided by warnings, facilitates successful damage mitigation. USDA's Coordinated Framework for Soybean Rust includes a network of sentinel soybean plots and wild kudzu stands monitored by extension agents for the presence of soybean rust, a potentially recurring threat to the U.S. soybean crop since 2005. The linchpin in this early-warning system is a website that provides near real-time, county-level information on the location of the disease. We consider factors that may influence information value. Copyright 2009 Agricultural and Applied Economics Association

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Publisher Info
Article provided by American Agricultural Economics Association in its journal Review of Agricultural Economics.

Volume (Year): 31 (2009)
Issue (Month): 2 (06)
Pages: 303-329
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Handle: RePEc:bla:ragrec:v:31:y:2009:i:2:p:303-329

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1058-7195

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This page was last updated on 2009-12-19.


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