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The value of a good decision: Assessing the economic benefits of decision aids

✍ Scribed by Butt, T.; Findl, O.; Orr, S.; Rubin, G.

Book ID
122111588
Publisher
John Wiley and Sons
Year
2013
Tongue
English
Weight
87 KB
Volume
16
Category
Article
ISSN
1098-3015

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A decision-analytic approach is taken to the problem of assessing the economic value of imperfect weather forecasts. Emphasis is placed on measures of the quality of such information and on the relationship between quality and economic value. The fallowing/planting problem for a spring wheat farmer