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
Market Solutions for Water Pollution, with Cathy Kling
Daniel Raimi and Cathy Kling discuss algae blooms occurring across the US and their connection to unregulated nutrient runoff from agricultural land.
Press Release — Sep 16, 2019
VALUABLES Consortium Accepting Applications for $300,000 in Grants
RFF's VALUABLES Consortium is accepting applications for $300,000 in Grants to Assess the Benefits of Satellites (GABS).
Report — Sep 4, 2019
Environmental Projects in Urban Areas: Analysis to Support Corps of Engineers Project Planning and Budgeting
This report describes US Army Corps of Engineers planning and budget justification practices in coastal and estuarine environments—with a focus on urban settings—and explores the current and potential application of ecosystem services analysis to Corps decisionmaking.