Abstract
Decision-makers today are required to assess disaster risk management options in increasingly complex and uncertain environments. Disaster risk management typically involves significant investment to mitigate low probability or highly uncertain events. We argue that under these circumstances existing economic evaluation toolkits do not adequately support decision-making. Our paper outlines the key economic evaluation tools used in decision-making and, in turn, advances a research agenda for future development and application of these approaches. Priority challenges to be addressed include resilience thinking, multi-capital assessment, valuing the future, accounting for distributional equity, social appetite for risk, and deep uncertainty. We also recommend a strong focus on capacity and capability building to improve the risk literacy of decision-makers.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
