Samenvatting
The economic features of a type of weather forecast for aviation known as Terminal Aerodrome Forecasts (TAFs) are examined. The value of TAFs, and the benefits of improving the accuracy of TAFs, are estimated for Qantas Airways Limited. The analysis is extended to consider indirect and external costs, and corresponding social benefit and social value are approximated. The concept of a socially optimal level of TAF accuracy is examined. (Author/publisher).