@inbook{22eaca23214f467d90453e4b44e46fb6,
title = "Assessing the 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 by the European Community{\textquoteright}s Seventh Framework Programme.",
keywords = "cost, benefit, crisis, decision-making, mitigation measure, economic impact",
author = "Minna R{\"a}ikk{\"o}nen and K. Pilli-Sihvola and Susanna Kunttu and Jussi Yliaho and Markus J{\"a}hi and G. Zuccaro and {Del Cogliano}, D.",
year = "2016",
language = "English",
isbn = "978-1-78466-229-5",
series = "WIT Transactions on State-of-the-art in Science and Engineering",
publisher = "WIT Press",
pages = "1--13",
editor = "S. Syngellakis",
booktitle = "Management of Natural Disasters",
address = "United Kingdom",
}