@inproceedings{ed0a4f3e946f41b18fa481b319564265,
title = "Assessing economic impacts of crises: A decision-support approach to long-term strategic planning",
abstract = "The assessment of economic impacts of crises and risk reduction generated by different mitigation measures is a multidimensional problem and often a challenging task. A major issue hindering the process is a lack of structured information. In particular, intangible losses are difficult to evaluate monetarily. Furthermore, the uncertainty related to the operational environment is difficult to estimate. This paper proposes a practical economic approach that aims at assessing different measures to mitigate the impacts of the crises. The purpose is to contribute to the understanding of the decision-making related to crisis management so that the goals of the decisions can be reached. The approach is mainly aimed at enhancing decision-making on a strategic level and at supporting crisis-management training. Additionally, a software tool based on the approach will be developed to make the assessment procedure usable in practice. The approach is demonstrated in two pilot cases: extreme winter storm in North of Finland and a major earthquake in Italy. The paper is based on research carried out in the CRISMA integration project which is funded from the European Community's Seventh Framework Programme.",
keywords = "cost, benefit, crisis, decision-making, mitigation measure, economic impact",
author = "Minna R{\"a}ikk{\"o}nen and Karoliina Pilli-Sihvola and Susanna Kunttu and Jussi Yliaho and Markus J{\"a}hi and G. Zuccaro and {Del Cogliano}, D.",
note = "Project code: 72677",
year = "2014",
doi = "10.2495/RISK140201",
language = "English",
isbn = "978-1-84564-793-3",
series = "WIT Transactions on Information and Communication Technologies",
publisher = "WIT Press",
pages = "229--241",
editor = "C.A. Brebbia",
booktitle = "Risk Analysis IX",
address = "United Kingdom",
}