ECONOMIC ISSUES IN FORMULATING POLICY FOR EARTHQUAKE HAZARD MITIGATION

Abstract

This paper analyzes three issues in the economics of earthquake hazard mitigation policy. First, the economic rationale for the public role in mitigation policy is advanced. Second, an efficient level of mitigation is specified. And third, the deficiencies of current measures of losses are examined. Proper measures of losses are identified and the need for a regional economic model is developed. Unless losses can be properly measured it will be impossible to develop an efficient mitigation program for earthquake hazards. Copyright 1985 by The Policy Studies Organization.