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The consequence of the Great Storm of 1987 wasn’t just the loss of 15 million trees. It shook the nation’s faith in the weather forecast. After all, who can forget weatherman Michael Fish infamously declaring to viewers who were worried that a hurricane was on the way: “don’t worry, there isn’t!”
Extreme heat can put lives at risk, making accurate forecasts essential for people working outdoors. FG Trade/E+ via Getty ImagesWeather forecasts have gotten quite good over the years, but their temperatures aren’t always spot on – and the result when they underplay extremes can be lethal. Even a 1-degree difference in a forecast’s accuracy can be the difference between life and death, our research shows. As economists, we have studied how people use forecasts to manage weather risks. In a new