The Value of Remotely Sensed Information: The Case of a GRACE-Enhanced Drought Severity Index

View Journal Article

Date

Nov. 29, 2017

Authors

Richard Bernknopf, David Brookshire, Yusuke Kuwayama, Molly Macauley, Matthew Rodell, Alexandra Thompson, Peter Vail, and Benjamin Zaitchik

Publication

Journal Article

Reading time

1 minute

A decision framework is developed for quantifying the economic value of information (VOI) from the Gravity Recovery and Climate Experiment (GRACE) satellite mission for drought monitoring, with a focus on the potential contributions of groundwater storage and soil moisture measurements from the GRACE Data Assimilation (GRACE-DA) System. The study consists of: (a) the development of a conceptual framework to evaluate the socioeconomic value of GRACE-DA as a contributing source of information to drought monitoring; (b) structured listening sessions to understand the needs of stakeholders who are affected by drought monitoring; (c) econometric analysis based on the conceptual framework that characterizes the contribution of GRACE-DA to the US Drought Monitor (USDM) in capturing the effects of drought on the agricultural sector; and (d) a demonstration of how the improved characterization of drought conditions may influence decisions made in a real-world drought disaster assistance program. Results show that GRACE-DA has the potential to lower the uncertainty associated with our understanding of drought, and that this improved understanding has the potential to change policy decisions that lead to tangible societal benefits.

Topics

Projects

The VALUABLES Consortium

Authors

Richard L. Bernknopf

Nonresident Fellow

Richard L. Bernknopf is a a visiting research fellow at RFF and research professor in the Department of Economics at the University of New Mexico.

David Brookshire

Yusuke Kuwayama

Fellow

Yusuke Kuwayama is a fellow at RFF and an assistant professor in the School of Public Policy at the University of Maryland, Baltimore County.

Molly K. Macauley

Matthew Rodell

Alexandra Thompson

Senior Research Associate and GIS Research Coordinator

Alexandra Thompson is a Senior Research Associate and the GIS Coordinator at RFF and an expert on using spatial data to address environmental and socioeconomic challenges.

Peter Vail

Benjamin Zaitchik

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