Benefit Analysis for Natural Hazards |
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| Authors: | V. Kerry Smith |
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| Affiliation: | Department of Economics, Vanderbilt University, Nashville, Tennesses 37235 |
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| Abstract: | The objective of this paper is to develop the ex ante perspective for benefit analysis with natural hazards. It defines an ex ante evaluation of the economic benefits that arise from policies designed to reduce either the risk of or the detrimental effects associated with a natural hazard. In the process the paper compares the ex ante and ex post perspectives and discusses the prospects for implementing the framework by measuring the valuation concepts that are developed. |
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| Keywords: | Benefit analysis natural hazards ex ante perspective risk |
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