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Inter-Decadal Climate Variability in the Edwards Aquifer: Regional Impacts of DCV on Crop Yields and Water Use

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  • Ding, Jinxiu
  • McCarl, Bruce A.

Abstract

Agricultural production and water resources are sensitive to climate variability and change. Decadal climate variability (DCV) phenomena are in the early stages of being explored. This paper investigates the economic value of DCV information in the Edwards Aquifer region of Texas as well as possible adaptation to that information. To do this we first do an econometric estimate of the impacts of DCV phase combinations on crop yields in the EA region, then we alter regional model to include DCV information. We find that the average economic value of perfect DCV information forecast is $40.76 million per year. And for a less perfect forecast in terms of knowing DCV information under transition probability, the average economic value is around $1.52 million per year.

Suggested Citation

  • Ding, Jinxiu & McCarl, Bruce A., 2014. "Inter-Decadal Climate Variability in the Edwards Aquifer: Regional Impacts of DCV on Crop Yields and Water Use," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170216, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:170216
    DOI: 10.22004/ag.econ.170216
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    References listed on IDEAS

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    1. Mu, Jianhong H. & Wein, Anne & McCarl, Bruce A., 2012. "Land Use and Management Changes: Adaptation to and Mitigation of Climate Change," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124835, Agricultural and Applied Economics Association.
    2. Bruce A. McCarl & Xavier Villavicencio & Ximing Wu, 2008. "Climate Change and Future Analysis: Is Stationarity Dying?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(5), pages 1241-1247.
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    Cited by:

    1. Benjapon Prommawin & Nattanun Svavasu & Spol Tanpraphan & Voravee Saengavut & Theepakorn Jithitikulchai & Witsanu Attavanich & Bruce A. McCarl, 2024. "Impacts of climate change and agricultural diversification on agricultural production value of Thai farm households," Climatic Change, Springer, vol. 177(7), pages 1-26, July.

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    More about this item

    Keywords

    Crop Production/Industries; Environmental Economics and Policy; Productivity Analysis; Risk and Uncertainty;
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