|Title||Non-market valuation in the economic analysis of natural hazards|
|Publication Type||Conference Paper|
|Year of Publication||2016|
|Authors||Gibson, FL, Pannell, DJ, Rogers, A, Kragt, M, Hailu, A|
|Publisher||Bushfire and Natural Hazards CRC|
To achieve value for money from investments in management of natural hazards (including mitigation, emergency response and clean up) economists advocate the use of tools like Benefit: Cost Analysis (BCA) to evaluate actions or policies (e.g. Milne et al. 2015). Many governments worldwide encourage the use of BCA for policy evaluation. For example, according to its Best Practice Regulation Handbook, ‘The Australian Government is committed to the use of cost–benefit analysis to assess regulatory proposals to encourage better decision making’ (Australian Government 2010, p. 61).