Government Institutional Effects on the Value of Seasonal Climate Forecasts
研究政府制度如何影响改进气候预报的价值，发现作物保险和劳动所得税抵免影响很小，灾害计划降低预报价值，而农场计划在价格下降时反而提升预报价值。
Abstract The impact of government institutions on the value of improved climate forecasts is examined. Results suggest that crop insurance and earned income tax credit have little effect on the expected change in after‐tax cash flows. Federal tax law has only a modest influence. As expected, the disaster program decreases the value of improved climate forecasts. With no price changes, the farm program lowers the value of the forecasts because of the acreage reduction provisions. With at least some price decreases, the farm program increases the value of climate forecasts. Here, the price supports override the acreage reduction provisions.