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Methodology and applications for the benefit cost analysis of the seismic risk reduction in building portfolios at broadscale

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  • Jairo Valcárcel
  • Miguel Mora
  • Omar Cardona
  • Lluis Pujades
  • Alex Barbat
  • Gabriel Bernal

Abstract

This article presents a methodology for an estimate of the benefit cost ratio of the seismic risk reduction in buildings portfolio at broadscale, for a world region, allowing comparing the results obtained for the countries belonging to that region. This methodology encompasses (1) the generation of a set of random seismic events and the evaluation of the spectral accelerations at the buildings location; (2) the estimation of the buildings built area, the economic value, as well as the classification in structural typologies; (3) the development of vulnerability curves for each typology; (4) the estimation of the annual average loss of the buildings portfolio in the current conditions as well as in the case of a hypothetical structural intervention. The benefit cost ratio is estimated as the difference between the estimates of the present value of these two annual average losses, divided by the retrofitting costs. This methodology has been applied to the portfolio of public schools of 14 countries of Latin America and the Caribbean, for evaluating the feasibility of the seismic risk reduction at a national scale. Copyright Springer Science+Business Media Dordrecht 2013

Suggested Citation

  • Jairo Valcárcel & Miguel Mora & Omar Cardona & Lluis Pujades & Alex Barbat & Gabriel Bernal, 2013. "Methodology and applications for the benefit cost analysis of the seismic risk reduction in building portfolios at broadscale," 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. 69(1), pages 845-868, October.
    • Handle: RePEc:spr:nathaz:v:69:y:2013:i:1:p:845-868
    DOI: 10.1007/s11069-013-0739-2
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    References listed on IDEAS

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    1. Li, Jiawei & Pollard, Simon & Kendall, Graham & Soane, Emma & Davies, Gareth, 2009. "Optimising risk reduction: An expected utility approach for marginal risk reduction during regulatory decision making," Reliability Engineering and System Safety, Elsevier, vol. 94(11), pages 1729-1734.
    2. Andreas Kappos & E. Dimitrakopoulos, 2008. "Feasibility of pre-earthquake strengthening of buildings based on cost-benefit and life-cycle cost analysis, with the aid of fragility curves," 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. 45(1), pages 33-54, April.
    3. -, 2003. "Handbook for estimating the socio-economic and environmental effects of disasters," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2782 edited by Eclac.
    4. Nieves Lantada & Luis Pujades & Alex Barbat, 2009. "Vulnerability index and capacity spectrum based methods for urban seismic risk evaluation. A comparison," 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. 51(3), pages 501-524, December.
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    Cited by:

    1. Li Long & Shansuo Zheng & Yixin Zhang & Longfei Sun & Yan Zhou & Liguo Dong, 2020. "CEDLES: a framework for plugin-based applications for earthquake risk prediction and loss 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. 103(1), pages 531-556, August.
    2. Ismaël Riedel & Philippe Guéguen, 2018. "Modeling of damage-related earthquake losses in a moderate seismic-prone country and cost–benefit evaluation of retrofit investments: application to France," 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. 90(2), pages 639-662, January.

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