Economics of Community Resilience Planning

Resilience investments are decided by people who disagree about how likely a disaster is and how much a bad outcome would hurt. This project builds the economic methods for that decision. It elicits risk preferences from individuals and from groups. It also values outcomes that no market prices, and measures how far expert risk judgments diverge from those of the communities experts advise.

Outputs include NIST guidance on nonmarket valuation, the Economic Decision Guide software and its wildfire case studies, published survey instruments, and empirical work on how past disasters shaped pandemic relief.