Value of Weather Information in Cranberry Marketing Decisions

Bernard J. Morzuch University of Massachusetts, Amherst, MA 01003

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Cleve E. Willis University of Massachusetts, Amherst, MA 01003

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Abstract

Econometric techniques are used to establish a functional relationship between cranberry yields and important precipitation, temperature, and sunshine variables. Crop forecasts are derived from the model and are used to establish posterior probabilities to be used in a Bayesian decision context pertaining to leasing space for the storage of the berries.

Abstract

Econometric techniques are used to establish a functional relationship between cranberry yields and important precipitation, temperature, and sunshine variables. Crop forecasts are derived from the model and are used to establish posterior probabilities to be used in a Bayesian decision context pertaining to leasing space for the storage of the berries.

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