Does mitigation save? Reviewing cost-benefit analyses of disaster risk reduction

Shreve, Cheney and Kelman, Ilan (2014) Does mitigation save? Reviewing cost-benefit analyses of disaster risk reduction. International Journal of Disaster Risk Reduction, 10 (A). pp. 213-235. ISSN 2212-4209

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Official URL: http://dx.doi.org/10.1016/j.ijdrr.2014.08.004

Abstract

The benefit-cost-ratio (BCR), used in cost-benefit analysis (CBA), is an indicator that attempts to summarize the overall value for money of a project. Disaster costs continue to rise and the demand has increased to demonstrate the economic benefit of disaster risk reduction (DRR) to policy makers. This study compiles and compares original CBA case studies reporting DRR BCRs, without restrictions as to hazard type, location, scale, or other parameters. Many results were identified supporting the economic effectiveness of DRR, however, key limitations were identified, including a lack of: sensitivity analyses, meta-analyses which critique the literature, consideration of climate change, evaluation of the duration of benefits, broader consideration of the process of vulnerability, and potential disbenefits of DRR measures. The studies demonstrate the importance of context for each BCR result. Recommendations are made regarding minimum criteria to consider when conducting DRR CBAs.

Item Type: Article
Uncontrolled Keywords: CBA; DRR; Ecosystems; Natural disasters; Risk management
Subjects: L100 Economics
L700 Human and Social Geography
Department: Faculties > Engineering and Environment > Geography
Depositing User: Paul Burns
Date Deposited: 06 Nov 2014 09:24
Last Modified: 09 May 2017 18:19
URI: http://nrl.northumbria.ac.uk/id/eprint/17954

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