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Earthquake vulnerability reduction program in Colombia : a probabilistic cost-benefit analysis / Francis Ghesquiere, Luis Jamin, Olivier Mahul, Research working paper Collection Title:Policy.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Ghesquiere, Francis.
- Series:
- Policy research working papers ; 3939.
- World Bank e-Library.
- Policy research working paper ; 3939
- Language:
- English
- Subjects (All):
- Cost effectiveness.
- Earthquakes--Colombia.
- Earthquakes.
- Risk.
- Other Title:
- Policy research working paper vol. 3939
- Place of Publication:
- [Washington, D.C. : World Bank, 2006]
- System Details:
- data file
- Summary:
- "Cost-benefit analysis is a standard tool for determining the efficiency of planned projects. But one of the major difficulties in risk mitigation investments is that benefits are by nature uncertain. In this context, the standard approach relying on the average value of benefits may provide an incomplete picture of the efficiency of the risk mitigation project under consideration. This paper presents a probabilistic cost-benefit analysis relying on a catastrophe risk model. It produces risk metrics such as the exceedance probability curve of the benefit-cost ratio, thus providing the decisionmaker with a more complete risk analysis of the net benefits of the project. This is illustrated with the earthquake vulnerability reduction project in Colombia. "--World Bank web site.
- Notes:
- Title from PDF file as viewed on 8/30/2006.
- Includes bibliographical references.
- Publisher Number:
- 10.1596/1813-9450-3939
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