Policy and Economics of Hazards

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Prescribed burning in northern NSW
Prescribed burning in northern NSW

Project Status:

The project tackles from an economic perspective issues relating to non-financial benefit estimation, risk analysis, and development of decision making frameworks that would help deliver value for money from public investments in natural hazard management.

With limited budgets, it is essential that decision makers know which strategies for managing natural hazards offer the best value for money, and how best to value social and environmental benefits.

The project tackles from an economics perspective issues relating to nonfinancial benefit estimation, risk analysis, and development of decision-making frameworks that will help deliver value for money from public investments in natural hazard management. It aims to improve the management of bushfires and other natural hazards by delivering the following outcomes:

  • Improved recognition of non-financial benefits of management and policy for natural hazards, influencing decisions about budget levels and about management and policy options.
  • Improved decision-making about management and policy options considering the full range of relevant factors (technical, social, economic, environmental, policy).
  • Improved quality of economic analysis throughout the sector, resulting in stronger and more defensible analyses, and stronger support from Treasury.

The project is actively engaged with agencies from South Australia, New South Wales, Tasmania, Victoria and Western Australia, with case studies on planned burning in the south west of Western Australia and on flood mitigation in the water catchments around Adelaide. The researchers led a workshop and presented at the Australasian Natural Hazards Management conference in Perth in 2015.

16 August, 2016
New journal articles and reports on CRC research are available online.
Holger Maier presents at the 2016 Hobart RAF
24 June, 2016
A number of insights around who dies in floods, mitigation benefits, estimating resilience and economics were key takeways for me from the Research Advisory Forum in Hobart.
Prescribed burning in northern NSW
12 June, 2015
This is the first of a series of project updates to keep end users up to date on project activities.
Year Type Citation
2016 Conference Paper Chalak, M., Florec, V., Hailu, A., Gibson, F. L. & Pannell, D. J. Integrated economic assessment of flood management options for Adelaide. AFAC16 (Bushfire and Natural Hazards CRC, 2016).
2016 Conference Paper Gibson, F. L., Pannell, D. J., Rogers, A., Kragt, M. & Hailu, A. Non-market valuation in the economic analysis of natural hazards. AFAC16 (Bushfire and Natural Hazards CRC, 2016).
2016 Conference Paper Rumsewicz, M. Research proceedings from the 2016 Bushfire and Natural Hazards CRC and AFAC conference. Bushfire and Natural Hazards CRC & AFAC annual conference 2016 (Bushfire and Natural Hazards CRC, 2016).
2016 Report Pannell, D. J. et al. Economics of natural hazards: Annual project report 2015-2016. (Bushfire and Natural Hazards CRC, 2016).
2015 Report Pannell, D. J., Hailu, A., Gibson, F. L. & Florec, V. Economics of natural hazards: Annual project report 2014-2015. (Bushfire and Natural Hazards CRC, 2015).
2015 Report Pannell, D. J. Economics of natural hazards annual project report 2014. (Bushfire and Natural Hazards CRC, 2015).
Economics of natural hazards
25 Aug 2014

The project tackles a range of economics issues, including estimation of non-financial benefits from hazard reduction, risk analysis, and development of decision making frameworks that would help deliver value for money from public investments in natural hazard management.

Key Topics:
Economics of Natural Hazards: Valuing Intangibles
18 Aug 2015

Natural disasters impact many things that people value: life, health, belongings, poprerty, essential services and the environment. Quantifying the cost of a natural disaster or the benefit from mitigation often excludes some of these things, because their values are not easily measureable.

Key Topics:
Download:
Veronique Florec Conference Poster 2016
12 Aug 2016

This project evaluates the tangible and intagible costs and benefits of natural hazards and mitigation options to help decision makers prioritise investments

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