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A study of ways of comparing the cost of planned atmospheric research with the value of the benefits derived. The authors find in this Memorandum that no aggregation of all resulting socioeconomic values is meaningful. An approach is suggested, however, by which rational estimates could be made of certain values. These are the values (to certain individuals or groups) of weather information. It is urged that, although research must be kept in balance, double gains, immediate and long-term, could be made through more effective use of weather information, even if it is known to be fallible.

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This report is part of the RAND Corporation research memorandum series. The Research Memorandum was a product of the RAND Corporation from 1948 to 1973 that represented working papers meant to report current results of RAND research to appropriate audiences.

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.