ECONOMIC BENEFIT OF PHYSICAL RISK REDUCTION BY DISASTER PREVENTION INVESTMENT

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  • 防災投資による物的被害リスクの軽減便益
  • ボウサイ トウシ ニ ヨル ブッテキ ヒガイ リスク ノ ケイゲン ベンエキ

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Abstract

The paper refers exclusively to the economic valuation of the attenuation of repairable physical risk caused by disaster through disaster prevention investment. A dynamic consumption model with disaster insurance systems is presented to investigate how a consumer's consumption behavior can be modified by the reduction of disaster risks. A simple cost-benefit calculation rule for disaster-proof investment is also presented to measure the long run effects of the disaster-proof investment upon a consumer's behavior.

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