A decision framework is developed for quantifying the economic value of information (VOI) from the Gravity Recovery and Climate Experiment (GRACE) satellite mission for drought monitoring, with a focus on the potential contributions of groundwater storage and soil moisture measurements from the GRACE Data Assimilation (GRACE-DA) System. The study consists of: (a) the development of a conceptual framework to evaluate the socioeconomic value of GRACE-DA as a contributing source of information to drought monitoring; (b) structured listening sessions to understand the needs of stakeholders who are affected by drought monitoring; (c) econometric analysis based on the conceptual framework that characterizes the contribution of GRACE-DA to the US Drought Monitor (USDM) in capturing the effects of drought on the agricultural sector; and (d) a demonstration of how the improved characterization of drought conditions may influence decisions made in a real-world drought disaster assistance program. Results show that GRACE-DA has the potential to lower the uncertainty associated with our understanding of drought, and that this improved understanding has the potential to change policy decisions that lead to tangible societal benefits.
Richard L. Bernknopf
Fellow and VALUABLES Consortium Director
Molly K. Macauley
Research Associate and GIS Research Coordinator
Press Release — Feb 11, 2020
New Episode of Resources Radio: "Going Deeper on NEPA, with J.B. Ruhl"
J.B. Ruhl explains the nuances of the National Environmental Policy Act (NEPA) and predicts how proposed rule changes could affect its implementation.
Report — Jan 30, 2020
Florida Climate Outlook: Assessing Physical and Economic Impacts through 2040
How will Florida be impacted by climate change—not in 100 years, but in 20? The questions are addressed in the Florida Climate Outlook: a comprehensive, visual report on the near-term physical and economic impacts of climate change and climate policy in Florida.
Press Release — Jan 30, 2020
New Study Assesses Florida's Near-Term Climate Impacts
How will Florida be impacted by climate change—not in 100 years, but in 20?