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Related Concept Videos

Design Example: Analyzing Capacity Contours for Flood Risk Assessment01:17

Design Example: Analyzing Capacity Contours for Flood Risk Assessment

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Modeling with Differential Equations

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Design Example: Creating a Hydraulic Model of a Dam Spillway

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Related Experiment Videos

A dynamic model for costing disaster mitigation policies.

Nezih Altay1, Sameer Prasad, Jasmine Tata

  • 1DePaul University, USA.

Disasters
|April 23, 2013
PubMed
Summary
This summary is machine-generated.

This study introduces a model to determine optimal disaster mitigation investment. It finds an optimal spending point that minimizes total disaster costs, which shifts with government experience and economic growth.

Related Experiment Videos

Area of Science:

  • Disaster Management
  • Economics
  • Operations Research

Background:

  • Determining optimal investment in disaster mitigation is challenging.
  • Existing models may not fully capture dynamic factors in disaster planning.

Purpose of the Study:

  • To develop a model for optimal disaster mitigation investment.
  • To incorporate dynamic interactions of risk, cost of living, and learning.

Main Methods:

  • Utilized a static model inspired by Joseph M. Juran's cost of quality management.
  • Developed a dynamic model accounting for changing risk, cost of living, and learning over time.

Main Results:

  • Identified an optimal investment point that minimizes total disaster management costs.
  • Demonstrated that this optimal point is influenced by government experience and economic development.

Conclusions:

  • The proposed model aids policymakers in planning and justifying disaster mitigation expenditures.
  • Dynamic modeling provides a more realistic approach to disaster management investment.