Wednesday, 17 January 2001: 1:30 PM
Good science and good meteorological judgment both play strong roles in weather risk valuations and derivatives pricing. We review some recent developments regarding the availability and utility of historical meteorological data to represent future weather probabilities, new seasonal forecasting products, and advances in assessing weather basis risk.
Other meteorological issues that we discuss and have yet to receive adequate attention are Temperature vs. Degree-day contracts and precipitation measurement and modeling.
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