Article
Dynamic Model of Costing Disaster Mitigation Policies
Disasters
(2013)
Abstract
The optimal level of investment in mitigation strategies is usually difficult to ascertain in the context
of disaster planning. This research develops a model to provide such direction by relying on
cost of quality literature. This paper begins by introducing a static approach inspired by Joseph M.
Juran’s cost of quality management model ( Juran, 1951) to demonstrate the non-linear trade-offs
in disaster management expenditure. Next it presents a dynamic model that includes the impact
of dynamic interactions of the changing level of risk, the cost of living, and the learning/investments
that may alter over time. It illustrates that there is an optimal point that minimises the
total cost of disaster management, and that this optimal point moves as governments learn from
experience or as states get richer. It is hoped that the propositions contained herein will help
policymakers to plan, evaluate, and justify voluntary disaster mitigation expenditures.
Disciplines
Publication Date
2013
DOI
10.1111/disa.12004
Citation Information
Nezih Altay, Sameer Prasad and Jasmine Tata. "Dynamic Model of Costing Disaster Mitigation Policies" Disasters Vol. 37 Iss. 3 (2013) p. 357 - 373 Available at: http://works.bepress.com/nezih_altay/21/