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Explain how climate change can affect agriculture and forestry.
Vickrey Auction
A type of sealed-bid auction where the highest bidder wins but pays the price offered by the second-highest bidder.
Willingness To Pay
The maximum amount an individual is ready to spend to acquire a good or service, reflecting the value they assign to it.
Expected Revenue
The predicted amount of money that a business will receive from its sales over a certain period, usually calculated by multiplying expected sales by the price of goods or services.
Probability
A numerical representation between 0 and 1 that indicates the likelihood of an event transpiring.
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