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Estimating the Value of an Early-Warning System

Author

Listed:
  • 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

Suggested Citation

  • Michael J. Roberts & David Schimmelpfennig & Michael J. Livingston & Elizabeth Ashley, 2009. "Estimating the Value of an Early-Warning System," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 31(2), pages 303-329, June.
    • Handle: RePEc:oup:revage:v:31:y:2009:i:2:p:303-329
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    Cited by:

    1. Stéphane Couture & Stéphane Lemarié & Sabrina Teyssier & Pascal Toquebeuf, 2024. "The value of information under ambiguity: a theoretical and experimental study on pest management in agriculture," Theory and Decision, Springer, vol. 96(1), pages 19-47, February.
    2. Bekkerman, Anton & Piggott, Nicholas E. & Goodwin, Barry K. & Jefferson-Moore, Kenrett, 2012. "A Market-based Mitigation Program for Wind-borne Diseases," Agricultural and Resource Economics Review, Cambridge University Press, vol. 41(2), pages 175-188, August.
    3. Thakur, Tiesta & Homans, Frances R. & Haight, Robert G. & Hurley, Terrance M., "undated". "Valuing Monitoring Networks for New Pathogens: The Case of Soybean Rust," 2018 Annual Meeting, August 5-7, Washington, D.C. 273870, Agricultural and Applied Economics Association.
    4. McFadden, Jonathan R., "undated". "Yield Maps, Soil Maps, and Technical Efficiency: Evidence from U.S. Corn Fields," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258120, Agricultural and Applied Economics Association.

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