IDEAS home Printed from https://ideas.repec.org/a/spr/nathaz/v69y2013i1p845-868.html
   My bibliography  Save this article

Methodology and applications for the benefit cost analysis of the seismic risk reduction in building portfolios at broadscale

Author

Listed:
  • Jairo Valcárcel
  • Miguel Mora
  • Omar Cardona
  • Lluis Pujades
  • Alex Barbat
  • Gabriel Bernal

Abstract

This article presents a methodology for an estimate of the benefit cost ratio of the seismic risk reduction in buildings portfolio at broadscale, for a world region, allowing comparing the results obtained for the countries belonging to that region. This methodology encompasses (1) the generation of a set of random seismic events and the evaluation of the spectral accelerations at the buildings location; (2) the estimation of the buildings built area, the economic value, as well as the classification in structural typologies; (3) the development of vulnerability curves for each typology; (4) the estimation of the annual average loss of the buildings portfolio in the current conditions as well as in the case of a hypothetical structural intervention. The benefit cost ratio is estimated as the difference between the estimates of the present value of these two annual average losses, divided by the retrofitting costs. This methodology has been applied to the portfolio of public schools of 14 countries of Latin America and the Caribbean, for evaluating the feasibility of the seismic risk reduction at a national scale. Copyright Springer Science+Business Media Dordrecht 2013

Suggested Citation

  • Jairo Valcárcel & Miguel Mora & Omar Cardona & Lluis Pujades & Alex Barbat & Gabriel Bernal, 2013. "Methodology and applications for the benefit cost analysis of the seismic risk reduction in building portfolios at broadscale," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 69(1), pages 845-868, October.
    • Handle: RePEc:spr:nathaz:v:69:y:2013:i:1:p:845-868
    DOI: 10.1007/s11069-013-0739-2
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11069-013-0739-2
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11069-013-0739-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Li, Jiawei & Pollard, Simon & Kendall, Graham & Soane, Emma & Davies, Gareth, 2009. "Optimising risk reduction: An expected utility approach for marginal risk reduction during regulatory decision making," Reliability Engineering and System Safety, Elsevier, vol. 94(11), pages 1729-1734.
    2. Andreas Kappos & E. Dimitrakopoulos, 2008. "Feasibility of pre-earthquake strengthening of buildings based on cost-benefit and life-cycle cost analysis, with the aid of fragility curves," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 45(1), pages 33-54, April.
    3. -, 2003. "Handbook for estimating the socio-economic and environmental effects of disasters," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2782 edited by Eclac, March.
    4. Nieves Lantada & Luis Pujades & Alex Barbat, 2009. "Vulnerability index and capacity spectrum based methods for urban seismic risk evaluation. A comparison," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 51(3), pages 501-524, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Li Long & Shansuo Zheng & Yixin Zhang & Longfei Sun & Yan Zhou & Liguo Dong, 2020. "CEDLES: a framework for plugin-based applications for earthquake risk prediction and loss assessment," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 103(1), pages 531-556, August.
    2. Ismaël Riedel & Philippe Guéguen, 2018. "Modeling of damage-related earthquake losses in a moderate seismic-prone country and cost–benefit evaluation of retrofit investments: application to France," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 90(2), pages 639-662, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yasuhide Okuyama, 2010. "Globalization and Localization of Disaster Impacts: An Empirical Examination," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 11(02), pages 56-66, July.
    2. Irfan Ahmed & Claudio Socci & Rosita Pretaroli & Francesca Severini & Stefano Deriu, 2022. "Socioeconomic spillovers of the 2016–2017 Italian earthquakes: a bi-regional inoperability model," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(1), pages 426-453, January.
    3. Baghersad, Milad & Zobel, Christopher W., 2015. "Economic impact of production bottlenecks caused by disasters impacting interdependent industry sectors," International Journal of Production Economics, Elsevier, vol. 168(C), pages 71-80.
    4. Arna Nishita Nithila & Paromita Shome & Ishrat Islam, 2022. "Waterlogging induced loss and damage assessment of urban households in the monsoon period: a case study of Dhaka, Bangladesh," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 110(3), pages 1565-1597, February.
    5. Robert A. Baade & Robert Baumann & Victor Matheson, 2007. "Estimating the Economic Impact of Natural and Social Disasters, with an Application to Hurricane Katrina," Urban Studies, Urban Studies Journal Limited, vol. 44(11), pages 2061-2076, October.
    6. Yus Budiyono & Jeroen Aerts & JanJaap Brinkman & Muh Marfai & Philip Ward, 2015. "Flood risk assessment for delta mega-cities: a case study of Jakarta," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 75(1), pages 389-413, January.
    7. Eduardo Cavallo & Ilan Noy, 2009. "The Economics of Natural Disasters: A Survey," Research Department Publications 4649, Inter-American Development Bank, Research Department.
    8. Elizabeth Holcombe & Sarah Smith & Edmund Wright & Malcolm Anderson, 2012. "An integrated approach for evaluating the effectiveness of landslide risk reduction in unplanned communities in the Caribbean," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 61(2), pages 351-385, March.
    9. Armando Aguilar-Meléndez & Lluis G. Pujades & Alex H. Barbat & Marisol Monterrubio-Velasco & Josep Puente & Nieves Lantada, 2022. "Comparative analysis of a new assessment of the seismic risk of residential buildings of two districts of Barcelona," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 110(3), pages 1649-1691, February.
    10. Piya, Luni & Maharjan, Keshav Lall & Joshi, Niraj Prakash, 2012. "Vulnerability of rural households to climate change and extremes: Analysis of Chepang households in the Mid-Hills of Nepal," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126191, International Association of Agricultural Economists.
    11. Balbi Stefano & Giupponi Carlo & Mojtahed Vahid & Olschewski Roland, 2015. "The Total Cost of Water-Related Disasters," Review of Economics, De Gruyter, vol. 66(2), pages 225-252, August.
    12. Athanasios Gkimprixis & John Douglas & Enrico Tubaldi, 2021. "Seismic risk management through insurance and its sensitivity to uncertainty in the hazard model," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 108(2), pages 1629-1657, September.
    13. Khathutshelo A. Tshikolomo & Azwihangwisi E. Nesamvuni & Marema Petja & Johan van Niekerk & Ndivhudza S. Mpandeli, 2022. "Livestock Farmer Demography and Adaptive Capacity to Climate Change and Variability in Limpopo and Mpumalanga Province of South Africa," Technium Social Sciences Journal, Technium Science, vol. 27(1), pages 870-898, January.
    14. Stefan Cristian Ciucu, 2014. "Large-scale natural disaster analysis in European transition countries," Computational Methods in Social Sciences (CMSS), "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences, vol. 2(2), pages 49-53, December.
    15. Selerio, Egberto & Maglasang, Renan, 2021. "Minimizing production loss consequent to disasters using a subsidy optimization model: a pandemic case," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 112-124.
    16. Maurizio Pollino & Grazia Fattoruso & Luigi La Porta & Antonio Bruno Della Rocca & Valentina James, 2012. "Collaborative Open Source Geospatial Tools and Maps Supporting the Response Planning to Disastrous Earthquake Events," Future Internet, MDPI, vol. 4(2), pages 1-18, May.
    17. Jhorland Ayala-García & Sandy Dall’Erba, 2021. "The impact of preemptive investment on natural disasters," Documentos de trabajo sobre Economía Regional y Urbana 301, Banco de la Republica de Colombia.
    18. Kousky, Carolyn, 2014. "Informing climate adaptation: A review of the economic costs of natural disasters," Energy Economics, Elsevier, vol. 46(C), pages 576-592.
    19. Morshedi, Mohamad Ali & Kashani, Hamed, 2022. "Assessment of vulnerability reduction policies: Integration of economic and cognitive models of decision-making," Reliability Engineering and System Safety, Elsevier, vol. 217(C).
    20. Yeudy F. Vargas-Alzate & Nieves Lantada & Ramón González-Drigo & Luis G. Pujades, 2020. "Seismic Risk Assessment Using Stochastic Nonlinear Models," Sustainability, MDPI, vol. 12(4), pages 1-21, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:nathaz:v:69:y:2013:i:1:p:845-868. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.