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Towards an economic assessment approach for early warning systems: Improving cost-avoidance calculations with regard to private households
Simone Wurster
Ulrich Meissen
S.R. Hiltz, M.S.P., L. Plotnick, and P.C. Shih.
In recent years, Early Warning Systems (EWS) have proven their value by saving many lives. However, most in-vestments into EWS were motivated directly by experienced disaster events and rarely pro-actively by possible up-coming threats. In order to change that we think that besides ethical and humanitarian reasons also the positive economic effects should be analyzed. EWS also help to protect property, but their contribution is not as obvious in that field due to the lack of quantitative models. This paper presents a disaster-independent formula that shows the benefits of EWS. Additional value to existing approaches is based on its advanced focus on behavioral aspects and the benefits of EWS in comparison to warnings issued via social media. We consider this work as an important contribution for future investments into warning technologies. However, yet this model just provides a theoretical framework for necessary empirical studies that are subject of further research.
urn:ISBN:9780692211946
openurl:?ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fidl.iscram.org%2F&genre=proceeding&title=Towards%20an%20economic%20assessment%20approach%20for%20early%20warning%20systems%3A%20Improving%20cost-avoidance%20calculations%20with%20regard%20to%20private%20households&stitle=ISCRAM%202014&issn=2411-3387&isbn=9780692211946&date=2014&spage=439&epage=443&aulast=Simone%20Wurster&au=Ulrich%20Meissen&pub=The%20Pennsylvania%20State%20University&place=University%20Park%2C%20PA&sid=refbase%3AISCRAM
url:http://idl.iscram.org/show.php?record=1107
citekey:SimoneWurster+UlrichMeissen2014
citation:Simone Wurster, & Ulrich Meissen. (2014). Towards an economic assessment approach for early warning systems: Improving cost-avoidance calculations with regard to private households. In and P.C. Shih. L. Plotnick M. S. P. S.R. Hiltz (Ed.), ISCRAM 2014 Conference Proceedings – 11th International Conference on Information Systems for Crisis Response and Management (pp. 439-443). University Park, PA: The Pennsylvania State University.
2014
ConferencePaper
text
Disasters
Investments
Early Warning System
Early warning systems
Economic assessments
Investment decisions
Quantitative assessments
Quantitative models
Theoretical framework
Warning technologies
Information systems
file:http://idl.iscram.org/files/wurster/2014/1107_Wurster+Meissen2014.pdf
The Pennsylvania State University
English
2411-3387
ISCRAM 2014 Conference Proceedings – 11th International Conference on Information Systems for Crisis Response and Management
2014
439
443
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