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The Value of Information: A Background Paper on Measuring the Contribution of Space-Derived Earth Science Data to National Resource Management

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  • Macauley, Molly

    () (Resources for the Future)

Abstract

This study, prepared at the request of the Office of Earth Science at the U.S. National Aeronautics and Space Administration (NASA), describes a general framework for conceptualizing the value of information and illustrates how the framework might be used to value information from earth science data collected from space. The framework serves two purposes. One purpose is provision of a common basis by which to conduct and evaluate studies of the value of earth science information that serves a variety of uses, from improving environmental quality to protecting public health and safety. The second purpose is to better inform decisionmakers about the value of data and information. Decisionmakers comprise three communities: consumers and producers of information, public officials whose job is to fund productive investment in data acquisition and information development (including sensors and other hardware, algorithm design and software tools, and a trained labor force), and the public at large.

Suggested Citation

  • Macauley, Molly, 2005. "The Value of Information: A Background Paper on Measuring the Contribution of Space-Derived Earth Science Data to National Resource Management," Discussion Papers dp-05-26, Resources For the Future.
  • Handle: RePEc:rff:dpaper:dp-05-26
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    File URL: http://www.rff.org/RFF/documents/RFF-DP-05-26.pdf
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    References listed on IDEAS

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    3. Thomas J. Teisberg & Rodney F. Weiher & Eugene Bardach, 2000. "Valuation of geomagnetic storm forecasts: An estimate of the net economic benefits of a satellite warning system," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 19(2), pages 329-334.
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    Cited by:

    1. Choi, Hyung Sik & Schneider, Uwe A. & Rasche, Livia & Cui, Junbo & Schmid, Erwin & Held, Hermann, 2015. "Potential effects of perfect seasonal climate forecasting on agricultural markets, welfare and land use: A case study of Spain," Agricultural Systems, Elsevier, vol. 133(C), pages 177-189.
    2. Peterson, Deborah C., 2006. "Precaution: principles and practice in Australian environmental and natural resource management," Conference/Workshop Proceedings 31906, Productivity Commission.
    3. Peterson, Deborah C., 2006. "Precaution: principles and practice in Australian environmental and natural resource management," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 137764, Australian Agricultural and Resource Economics Society.

    More about this item

    Keywords

    Value of information; earth science; natural resource economics;

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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