Space weather and risk management

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Space weather and risk management

The term space weather is used for the solar driven variability in particle and electromagnetic conditions of the near-Earth space that may harm the performance of ground-based and space-borne technology. The European Union (EU) and the European Space Agency (ESA) have started a common programme called the Global Monitoring for Environment and Security (GMES). Many of the GMES operational servi...

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An Integrated Management System of Multipoint Space Weather Observation

An outline of a planned system for the global space-weather monitoring network of NICT (National Institute of Information and Communications Technology) is given. This system can manage data collection much easier than our current system, by installations of autonomous recovery, periodical state monitoring, and dynamic warning procedures. According to a provisional experiment using a network si...

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Farm-Level Risk Management Using Irrigation and Weather Derivatives

An agronomic crop growth model—the Decision Support System for Agro-Technology Transfer—and a constant relative risk aversion utility function are used to examine corn irrigation strategies in Mitchell County, Georgia. Precipitation contracts are designed to help farmers manage risk. Three conclusions originate from the findings. First, the optimal irrigation strategy can greatly increase produ...

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Modelling and forecasting wind speed intensity for weather risk management

The modelling of wind speed is a traditional topic in meteorological research, where the main interest is on the short-term forecast of wind speed intensity and direction. More recently, this theme has received some interest in the quantitative finance literature for its relationship with electricity production by wind farms. In fact, electricity producers are interested in long-range forecasts...

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Risk Management for Arable Farms: Irrigation and Weather Derivatives

With the Water Framework Directive (WFD), the European Union has established a legal framework for the protection of all aquatic ecological systems including groundwater. In this paper the economic impacts of the WFD for irrigated agriculture with regard to the reduction of water withdrawal permits and various scenarios are analyzed. The results show that decreasing water permits cause decreasi...

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ژورنال

عنوان ژورنال: Advances in Geosciences

سال: 2005

ISSN: 1680-7359

DOI: 10.5194/adgeo-3-23-2005