A Case Study in the Economics of Information and Coordination
The Weather Forecasting System
Download
Download eBook for Free
| Format | File Size | Notes |
|---|---|---|
| PDF file | 2.4 MB | Use Adobe Acrobat Reader version 10 or higher for the best experience. |
Purchase
Purchase Print Copy
| Format | List Price | Price | |
|---|---|---|---|
| Add to Cart | Paperback40 pages | $20.00 | $16.00 20% Web Discount |
An application of the economics of information and coordination to problems involving the dissemination, use, and evaluation of weather information. The case studied is the decision problem that confronts the dispatcher of a fleet of trucks. It is concluded that the public forecaster's choice of an information structure should reflect the importance of the different weather dimensions as determined by the number and types of decision problems faced and the sensitivity of the payoff to the action taken.
This report is part of the RAND Corporation Paper series. The paper was a product of the RAND Corporation from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.
This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.
The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.