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Assessing the economic value of early warning systems

 
: Klafft, M.; Meissen, U.

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ISCRAM 2011, 8th International Conference on Information Systems for Crisis Response and Management. Online resource : From Early-Warning Systems to Preparedness and Training, Lisbon, Portugal, May 8-11, 2011
Lisbon, 2011
http://www.iscramlive.org/ISCRAM2011/proceedings/
10 pp.
International Conference on Information Systems for Crisis Response and Management (ISCRAM) <8, 2011, Lisbon>
English
Conference Paper, Electronic Publication
Fraunhofer ISST ()

Abstract
As of today, investments into early warning systems are, to a large extent, politically motivated and "disaster-driven". This means that investments tend to increase significantly if a disaster strikes, but are often quickly reduced in the following disaster-free years. Such investment patterns make the continuous operation, maintenance and development of the early warning infrastructure a challenging task and may lead to sub-optimal investment decisions. The paper presented here proposes an economic assessment model for the tangible economic impact of early warning systems. The model places a focus on the false alert problematic and goes beyond previous approaches by incorporating some socio-cultural factors (qualitatively estimated as of now). By doing so, it supports policymakers (but also private investors) in their investment decisions related to early warning applications.

: http://publica.fraunhofer.de/documents/N-350230.html