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Estimating the Value of an Early-Warning System

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  • Michael J. Roberts
  • David Schimmelpfennig
  • Michael J. Livingston
  • Elizabeth Ashley

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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Bibliographic Info

Article provided by Agricultural and Applied 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:oup:revage:v:31:y:2009:i:2:p:303-329

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Cited by:
  1. Bekkerman, Anton & Piggott, Nicholas E. & Goodwin, Barry K. & Jefferson-Moore, Kenrett Y., 2012. "A Market-based Mitigation Program for Wind-borne Diseases," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(2), August.

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