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Weather derivatives for managing weather and climate risk in agriculture
International Journal of Financial Engineering, 2020In this paper, we develop a pricing model for weather derivatives at a single location and multiple locations. In the first model, a Lévy regime-switching temperature model for a single location is used to price futures written on cumulative average temperature and growing degree-days indices at a single location.
Samuel Asante Gyamerah +2 more
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Risk of a road accident in rainy weather
Accident Analysis & Prevention, 1988A number of methods have been proposed for measuring the added risk of a road accident during rainy weather. These methods are reviewed here, and two of them are applied, with adjustments, to data from Israel and the United States. Their accuracy, however, is limited because surrogates have to be used for traffic exposure to rain. Nevertheless, results
H, Brodsky, A S, Hakkert
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Inclement Weather and the Risk of Hip Fracture
Epidemiology, 1998An association between inclement weather and hip fractures has been documented, but specific subgroups of the population at particular risk have not been identified. We obtained information that included hospitalization data on all hip fractures in Montreal from 1982 to 1992, and meteorologic data on the amount of snow, rain, and freezing rain and the ...
A R, Levy +3 more
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Weather derivatives valuation and market price of weather risk
Journal of Futures Markets, 2004AbstractThis paper has two objectives: (1) to propose and implement a valuation framework for temperature derivatives (a specific class of weather derivatives); and (2) to study the significance of the market price of weather risk. The objectives are accomplished by generalizing the Lucas model of 1978 to include the weather as another fundamental ...
Melanie Cao, Jason Wei
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Weather derivatives are a relatively recent kind of financial product developed to manage weather risks, and currently the weather derivatives market is the fastest‐growing derivative market. The development of weather derivatives represents one of the recent trends toward the convergence of insurance and finance.
Patrick L. Brockett +2 more
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Weathering Risk: Uncertainty, Weather Forecasting, and Expertise
Sociology Compass, 2012Abstract Bridging the sociology of uncertainty and weather, this review paper provides a sociological examination of the weather forecasting enterprise in order to illustrate how expert decision makers negotiate high uncertainty. It begins with an outline of the literature on uncertainty and risk, particularly as it regards the modern
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Weather Risk in Offshore Projects
Journal of the Operational Research Society, 1994Risk analysis tools have been used to help manage various projects. This paper describes a case study in which an extension to the stochastic project network model was developed for a risk analysis of an oil platform installation, quantifying the possible impact of the weather on the project's schedule. Examination of the weather data suggested the use
J. A. Bowers, G. I. Mould
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Extreme weather risk and the cost of equity
2023We examine if extreme weather exposure impacts firms' cost of equity. Motivated by a consumption-based asset pricing model with heterogeneous agents, we reveal the existence of an extreme weather risk premium in the cross-section of stock returns. In the period from 1995 to 2019, domestic U.S.
Julia Braun +2 more
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Weather‐risk hedging by farmers
The Journal of Risk Finance, 2009PurposeSmall farmers in developing countries have very little means of managing the weather‐risk to their agricultural produce. Weather derivatives could provide a solution, but the demand for such instruments and the willingness to invest in them needs to be researched.
Rajiv Seth +2 more
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On the Systemic Nature of Weather Risk
2009Systemic weather risk is a major obstacle for the formation of private (nonsubsidized) crop insurance. This paper explores the possibility of spatial diversification of insurance by estimating the joint occurrence of unfavorable weather conditions in different locations. For that purpose copula methods are employed that allow an adequate description of
Xu, Wei +7 more
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