Estimating the value of foresight: aggregate analysis of natural hazard mitigation benefits and costs
Hazard mitigation planners claim that foresighted present actions and investments produce significant future benefits. However, they have difficulty in supporting their claims, since previously their evidence typically was derived from individual case studies. Constituents and decision makers are often sceptical, believing that individual cases are either inapplicable to their situation or non-randomly selected to support a particular view. Planners need objective evidence based on a large body of experience to support the case for mitigation. Such is the unique contribution of a recent U.S. study that found that each dollar spent in three federal natural hazard mitigation grant programs (the Hazard Mitigation Grant Program, Project Impact, and the Flood Mitigation Assistance Program) saves society an average of $4 in future avoided losses. Complementing the aggregate benefit-cost analysis with community-based evaluations, the study yielded insights on how planners can improve long-term community resilience in the face of extreme events. Valuable lessons for mitigation planners and policy makers emerged: the need to consider a wide variety of losses, the importance of mixing qualitative with quantitative analysis, the value of averaging results over a large number of projects, and the need to more explicitly address social issues and data collection in order to reduce vulnerability and enhance resilience to cope with twenty-first century hazards.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 52 (2009)
Issue (Month): 6 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CJEP20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CJEP20|
When requesting a correction, please mention this item's handle: RePEc:taf:jenpmg:v:52:y:2009:i:6:p:739-756. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.