Thursday, 13 January 2000: 3:45 PM
Use of NOAA data sets as bases for creating weather hedging instruments represents a unique valuation of weather, water, and climate information. The authors review the evolution of financial market makers use of NOAA data sets and speculate on future directions that merge climatological data with improved seasonal forecasts. Players in the derivatives industry face formidable challenges to future growth. These include international data exchange issues, the health of the global weather observation infrastructure, and the climate monitoring network. The authors offer their perspectives on ways to address some of these challenges through government-industry partnerships.
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