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In usual pricing approaches for weather derivatives, forward-looking information such as meteorological weather forecasts is not considered. Thus, important knowledge used by market participants is ignored in theory. By extending a standard model for the daily temperature, this paper allows the...
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Extreme weather events pose an economic threat to farms. The risk management behaviour against such events is often studied using prospect theory as a framework, but empirically deriving corresponding parameters in the field involving farmers is challenging. To address this issue, we compare...
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March and April as well as an increase of days with extreme drought in summer were observed. The latter are expected to … increase in the future. Increasing heat and drought adversely affect in particular growth and crop harvest of arable cultures e …. g. winter wheat. Extreme drought impairs especially the regeneration capacity in spruce and pine forests. For some …
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