Texas Agricultural Experiment Station (TAES)U.S. Department of Agriculture. Natural Resource Conservation Service (NRCS)NOAAMjelde, JimHill, HarveyFuller, SteveFellin, LuisChen, Chi ChungMcCarl, Bruce A.2016-04-192016-04-192000Journal of Agricultural and Resource Economics 25(2): 368-3851068-5502http://hdl.handle.net/10919/65255Metadata only recordThis paper uses economic models to assess the value of El Niño-Southern Oscillation (ENSO) phase knowledge in agricultural planning. The authors evaluate the effects of improved forecasts of ENSO through economic modeling that incorporates the US agricultural sector and global trade. They attempted to quantify the impacts of expanding the model to include global consequences of ENSO shifts and also evaluated the value of basing the model on the full distribution versus averaged ENSO phase strength effects, finding that accounting for the full distribution increased the value of the information to twice that of the averaged distribution calculations.text/plainen-USIn CopyrightWorld marketsEconomic analysesInternational tradeModelingEconomic modeling and analysisEconomic impactsAgricultureEl niño southern oscillation (enso)Agricultural Sector Model (ASM)DisseminationStochastic programmingCrop yieldsEnso forecastsValue of informationUncertaintySpatial equilbrium modelFarm/Enterprise ScaleAbstractCopyright 2000 Western Agricultural Economics Association