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Estimation of industrial and commercial asset values for hazard risk assessment

Author

Listed:
  • Isabel Seifert
  • Annegret Thieken
  • Mirjam Merz
  • Dietmar Borst
  • Ute Werner

Abstract

For risk analyses not only knowledge about the impact of different types of hazards, but also information about the elements and values at risk is necessary. This article introduces a methodology for a countrywide estimation of asset values for commercial and industrial properties using Germany as an example. It consists of a financial appraisal of asset values on the municipal level and a further disaggregation by means of land use data. Novelties are the distinction of 60 economic activities, the consideration of production site sizes and the application of a dasymetric mapping technique for a sector-specific estimation and disaggregation of asset values. A validation with empirical data confirms the feasibility of the calculation. The resulting maps can be used for loss estimations e.g. in the framework of cost–benefit analyses that aim to evaluate hazard mitigation measures or for portfolio analyses by banks and insurance companies. The approach can be used for other countries if the necessary data is available (mainly in industrialized countries). In any case, it reveals the critical points when estimating commercial and industrial asset values. Copyright Springer Science+Business Media B.V. 2010

Suggested Citation

  • Isabel Seifert & Annegret Thieken & Mirjam Merz & Dietmar Borst & Ute Werner, 2010. "Estimation of industrial and commercial asset values for hazard risk assessment," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 52(2), pages 453-479, February.
    • Handle: RePEc:spr:nathaz:v:52:y:2010:i:2:p:453-479
    DOI: 10.1007/s11069-009-9389-9
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    References listed on IDEAS

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    1. Russell Blong, 2003. "A New Damage Index," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 30(1), pages 1-23, September.
    2. Jutta Geldermann & Mirjam Merz & Valentin Bertsch & Michael Hiete & Otto Rentz & Isabel Seifert & Annegret H. Thieken & Dietmar Borst & Ute Werner, 2008. "The reference installation approach for the estimation of industrial assets at risk," European Journal of Industrial Engineering, Inderscience Enterprises Ltd, vol. 2(1), pages 73-93.
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    Cited by:

    1. Zhang, Fan & Fogarty, James, 2015. "Nonmarket Valuation of Water Sensitive Cities: Current Knowledge and Issues," Working Papers 207694, University of Western Australia, School of Agricultural and Resource Economics.
    2. Jidong Wu & Ying Li & Ning Li & Peijun Shi, 2018. "Development of an Asset Value Map for Disaster Risk Assessment in China by Spatial Disaggregation Using Ancillary Remote Sensing Data," Risk Analysis, John Wiley & Sons, vol. 38(1), pages 17-30, January.
    3. Jidong Wu & Mengqi Ye & Xu Wang & Elco Koks, 2019. "Building Asset Value Mapping in Support of Flood Risk Assessments: A Case Study of Shanghai, China," Sustainability, MDPI, vol. 11(4), pages 1-19, February.
    4. WU, Jidong & LI, Ning & SHI, Peijun, 2014. "Benchmark wealth capital stock estimations across China's 344 prefectures: 1978 to 2012," China Economic Review, Elsevier, vol. 31(C), pages 288-302.
    5. Tobias Sieg & Thomas Schinko & Kristin Vogel & Reinhard Mechler & Bruno Merz & Heidi Kreibich, 2019. "Integrated assessment of short-term direct and indirect economic flood impacts including uncertainty quantification," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-21, April.

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