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
Satellite Data Can Inform Water Policy
Earth scientists and water managers can use satellite data to maintain water quality and availability.
Press Release — Mar 10, 2020
New Episode of Resources Radio: "Managing Flood Risk under Climate Change, with Carolyn Kousky"
Carolyn Kousky discusses how current responses to flooding damages are inadequate and whether alternate policy mechanisms would be preferable.
Press Release — Feb 18, 2020
New Episode of Resources Radio: "On the Job with Florida’s First Chief Resilience Officer, Julia Nesheiwat"
Julia Nesheiwat explains how she is approaching Florida’s complex climate challenges in her role as the state’s first-ever chief resilience officer.