Global Research Dynamics On Weather Derivatives: A Bibliometric Analysis Of Climate, Temperature, And Pricing Models (1957–2025)

Abstract

This study presents a comprehensive bibliometric analysis of global research on weather derivatives, with a focus on climate, temperature-based risk, and pricing models spanning from 1957 to 2025. The research aims to explore the intellectual structure and thematic evolution of the field, investigate patterns of author collaboration and international research networks, and assess the development of pricing models in response to increasing climate variability. It seeks to answer how the volume and thematic focus of scientific publications on weather derivatives have evolved over time, which keywords, authors, and journals have been most influential, and how international collaborations have shaped the dissemination and impact of this research area. Although weather derivatives have gained importance as financial instruments for hedging climate-related risks, there remains a significant gap in understanding their interdisciplinary development from a bibliometric perspective. Using performance analysis and science mapping through the Bibliometrix R-package, this study analyzes 778 documents from 457 sources, revealing an annual growth rate of 5.65%, an average of 27.75 citations per document, and a 26.99% international co-authorship rate. These findings highlight the expanding yet fragmented nature of research in this domain and provide insights for future studies to refine pricing methodologies, strengthen policy integration, and encourage cross-disciplinary collaboration.