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
Common Resources — Jun 26, 2020
Quantifying the Socioeconomic Benefits of Using Satellite Data to Detect Cyanobacterial Harmful Algal Blooms
Satellite data can keep lake goers safe from harmful algal blooms—and offer broad socioeconomic benefits through decreased healthcare costs.
Press Release — Jun 24, 2020
Early Detection of Harmful Algal Blooms Using Satellites Improves Management Decisions and Human Health Outcomes
As Americans head to the shores and lakefronts this summer, a new analysis reveals just how valuable satellites-based detection of harmful algal blooms can be in protecting visitors and residents alike.
Journal Article — Jun 18, 2020
Quantifying the Human Health Benefits of Using Satellite Information to Detect Cyanobacterial Harmful Algal Blooms and Manage Recreational Advisories in US Lakes
This article presents an impact framework to estimate the socioeconomic benefits of satellite remote sensing for detecting cyanoHABs and managing recreational advisories at freshwater lakes.