NEHRP Clearinghouse

Role of Geoscience Information in Reducing Catastrophic Loss Using a Web-Based Economics Experiment.
Bernknopf, R. L.; Brookshire, D. S.; Ganderton, P. T.
January 2003, 38 p.
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Natural hazards present both organizations responsible for protecting public safety and organizations that protect private individuals with the most serious risk-management problems. Nature is often seen as a random force, and although considerable progress has been made to model and predict natural hazard and disaster risk, events such as earthquakes, tornadoes, fires, and floods continue to wreak havoc on an increasingly dense and resource-rich social and economic environment. This report presents the findings of a research project designed to study the role improved geoscience information might play in the assessment of risk and the value of insurance, especially for natural-hazard-type risks. Earlier, we investigated the response of subjects to relatively low probability but high-loss risks of the kind that characterize natural hazards.
; Floods; Hazards; Risk management; Earthquakes; Public safety; Geology; Data analysis; Natural disasters; Economic theory; Losses; Information systems; Maps; Insurance; Geophysics; Assessments; Tornadoes; Fires; Castrophes; Costs; Benefits