Valuing the Impacts of Natural Disasters and the Economic Benefits of Preventing Them
Valuing the Impacts of Natural Disasters and the Economic Benefits of Preventing Them
Methods and Applications
While damage to public goods could make up a large part of the overall economic damage caused by natural disasters, few studies of their economic value exist. This is due to their non-market nature and lack of market prices, which make assessments of their economic values difficult. Therefore, this chapters aims at describing both market and non-market valuation methods that can be used to value the impacts of natural disasters; and especially how they can be adapted in order to estimate the social benefits arising from the prevention of damage from natural disasters in developing countries
Keywords: Damage costs, natural disasters, nonmarket valuation, contingent valuation, value transfer
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