49. Weather Forecasts

The Economics of Everyday Things

With industries relying on them and profits to be made, weather forecasts are more precise and more popular than ever. But there are clouds on the horizon. Zachary Crockett grabs an umbrella.

• SOURCES:
  • Steve Adelman, head of Adelman Law Group, PLLC and vice president of the Event Safety Alliance.
  • Peter Neilley, director of weather forecasting sciences and technologies for The Weather Company.

• RESOURCES:
  • "Traders Have Turned Betting on the Weather, a Technique Pioneered by Enron, Into a Booming $25 Billion Market," by Dylan Sloan (Fortune, 2024).
  • "Why Your Weather Forecasts May Soon Become More Accurate," by Dan Stillman (The Washington Post, 2023).
  • "The High-Tech Race to Improve Weather Forecasting," (The Economist, 2023).
  • "Study: Climate Change Has Increased Atmospheric Instability Over Past 40 Years," by University at Albany (Phys.org, 2023).
  • "Beyoncé Concert In D.C. Suburb Highlights Complex Weather Challenges," by Marshall Shepherd (Forbes, 2023).
  • "Forecast Process," by the U.S. National Weather Service.

• EXTRAS:
  • "How Will We Handle the Heat?" by Freakonomics Radio (2022).
  • "The Folly of Prediction," by Freakonomics Radio (2011).