Shrader, Jeffrey; Bakkensen, Laura; Lemoine, Derek - 2023
We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from … mortality if and only if mortality risk is convex in forecast errors. We test for such convexity using data on the universe of … mortality events and weather forecasts for a twelve-year period in the U.S. Results show that erroneously mild forecasts …