Citation
Kobayashi K., . and Yokomatsu M., . (2004) Economic valuation of catastrophe risks management. [Proceedings Paper]
Abstract
The calculation of expected-losses-reduction adopted in practices of cost-benefit analysis of disaster mitigation investment fails to capture the catastrophic features of disaster most typically characterized by large magnitudes of collective damage. The risk management methods to cope with disaster can be classified into two categories: risk control through disaster mitigation and risk financing to allocate catastrophe risks through market transactions. The paper claims that the cost-benefit evaluation of mitigation investment should reflect social applicability of risk financing technology to take into account the catastrophic aspects of natural disaster. The paper presents an extended framework of economic valuation of catastrophe risk mitigation and summarizes remaining issues to be concurred in future research.
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Abstract
The calculation of expected-losses-reduction adopted in practices of cost-benefit analysis of disaster mitigation investment fails to capture the catastrophic features of disaster most typically characterized by large magnitudes of collective damage. The risk management methods to cope with disaster can be classified into two categories: risk control through disaster mitigation and risk financing to allocate catastrophe risks through market transactions. The paper claims that the cost-benefit evaluation of mitigation investment should reflect social applicability of risk financing technology to take into account the catastrophic aspects of natural disaster. The paper presents an extended framework of economic valuation of catastrophe risk mitigation and summarizes remaining issues to be concurred in future research.
Additional Metadata
| Item Type: | Proceedings Paper |
|---|---|
| Additional Information: | Summary En |
| AGROVOC Term: | RISK |
| AGROVOC Term: | MANAGEMENT |
| AGROVOC Term: | DISASTERS |
| AGROVOC Term: | COST BENEFIT ANALYSIS |
| AGROVOC Term: | ECONOMIC VALUE |
| AGROVOC Term: | JAPAN |
| Geographical Term: | MALAYSIA |
| Depositing User: | Ms. Norfaezah Khomsan |
| Last Modified: | 24 Apr 2025 05:27 |
| URI: | http://webagris.upm.edu.my/id/eprint/16016 |
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