Volume 7, March 2014, Pages 91–99
Abstract
The
paper briefly overviews the existing methodologies for evaluation of
the economic losses incurred by premature and additional deaths provoked
by natural and technological disasters. The methodology routinely
employed by the responsible governmental agency in Russia is critically
analyzed. An improved methodology based on welfare theory and
international comparison approach is introduced and applied to evaluate
losses from the heat waves and wildfires' impact on the Moscow region in
summer 2010. The calculation procedures and the basic findings are
disclosed. An alternative methodology based on actuarial approach and
the value of statistical life (VSL) concept is used to both contrast and
verify the findings obtained. It is argued that these findings should
be considered as a guide or recommendation to improve the legal and
methodological bases existing in Russia for evaluation of the losses
associated with premature and additional mortality provoked by
disasters.
Keywords
- Human life value;
- Value of statistical life;
- Loss evaluation;
- Human losses;
- Disaster
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