The results of a study designed to determine the cost of working during the winter months in a typical northern state are presented. The data indicates that contractors perceive an 11.3 percent increase in costs due to cold weather work. This additional expense is approximately equal to the cost, neglecting the effect of inflation and interest, of delaying the work until the following summer months. In addition, the financial impact of winter construction accidents was found to be roughly in the same range as that of the benefits paid to unemployed construction workers.
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Koehn et al. (1981) studied this question.