AN ECONOMIC-ANALYSIS OF TERMINAL AERODROME FORECASTS WITH SPECIAL REFERENCE TO SYDNEY AIRPORT

The economic features of a type of weather forecast for aviation known as Terminal Aerodrome Forecasts (TAFs) are examined. The value of TAF s, and the benefits of improving the accuracy of TAFs, are estimated f or Qantas Airways Limited. The analysis is extended to consider indire ct and external costs, and corresponding social benefit and social val ue are approximated. The concept of a socially optimal level of TAF ac curacy is examined.