A tool for calculating the economic and environmental impacts of the use of byproducts of industrial processes that can substitute for perishable resources was presented.This was exemplified by fly ash(the fine fracti...A tool for calculating the economic and environmental impacts of the use of byproducts of industrial processes that can substitute for perishable resources was presented.This was exemplified by fly ash(the fine fraction of ash originating from coal burned to generate electricity and collected by filtering exhaust gases leaving the furnace),added to soil as a component of sewage sludge stabilized with fly ash and lime(NVS).Application to soil of NVS has potential agricultural and environmental advantages and disadvantages.The costs and benefits of such application were calculated using both a database and expert opinions.The calculations assumed a representative assemblage of soils and crops,with weights assigned to each crop type and soil characteristic.The annual weighted benefits(additional income for the farmer)and costs per hectare reached 324$/ha and 131$/ha respectively.Major potential benefits include:Chemical fertilizer replacement,159$/ha;Improvement to the soil’s physical properties,75$/ha;Supply of vital trace elements,33$/ha.Major potential costs were:Regulatory limitations on marketing of crops pending proof of absence of risk of heavy metals or radionuclides accumulation in these crops,(17$/ha and 36$/ha respectively);Application and incorporation cost,50$/ha.The presented estimates of the costs and benefits refer to the array of soils and conditions typical to Israel.It is possible to maximize potential benefits by applying fly ash only to the most suitable agricultural soils while improper use of fly ash will increase the costs incurred from its use.展开更多
With the introduction of many derivatives into the capital market,including stock index futures,the trading strategies in financial markets have been gradually enriched.However,there is still no theoretical model that...With the introduction of many derivatives into the capital market,including stock index futures,the trading strategies in financial markets have been gradually enriched.However,there is still no theoretical model that can determine whether these strategies are effective,what the risks are,and how costly the strategies are.We built an agent-based cross-market platform that includes five stocks and one stock index future,and constructed an evaluation system for stock index futures trading strategies.The evaluation system includes four dimensions:effectiveness,risk,occupation of capital,and impact cost.The results show that the informed strategy performs well in all aspects.The risk of the technical strategy is relatively higher than that of the other strategies.Moreover,occupation of capital and impact cost are both higher for the arbitrage strategy.Finally,the wealth of noise traders is almost lost.展开更多
Evaluation of the economic costs and benefits of flood disaster risk management projects is crucial.However,current costbenefit analyses(CBA) often lack reliable estimates of the expected loss reduction from flood con...Evaluation of the economic costs and benefits of flood disaster risk management projects is crucial.However,current costbenefit analyses(CBA) often lack reliable estimates of the expected loss reduction from flood control measures and ignore quantitative assessments of resettlement.To address these limitations,this study incorporated a probabilistic risk analysis method and quantitative resettlement benefits assessment into the CBA framework,using the Wuxikou Integrated Flood Management Project(WIFMP) in Jiangxi Province,China,as a case study.The direct economic benefits of flood control were estimated by integrating hydrological statistics,numerical flood inundation simulation,and quantitative damage analysis with exposure and vulnerability data.Furthermore,the resettlement benefits were quantified by measuring the annual income growth of migrants based on assumptions about household employment.Our analysis shows that the total WIFMP investment is RMB 3546.1 million yuan(USD 1=RMB 6.976 yuan),including loan principal and interest of 244.4 million yuan,and operations and maintenance of 605.5 million yuan at 2020 prices.Annual project benefits are estimated at 351.3 million yuan in flood risk reduction,155.7-191.9 million yuan from increased resettlement income,and 42.7 million yuan in power and water revenues.Considering the costs and benefits across the entire project lifecycle,the internal rate of return ranges from 13.7 to 14.2%,and the net present value ranges from 31.8 to 352.6 billion yuan.Through improved benefit estimation methodology,this research enables a more reliable and holistic evaluation of costs and benefits for flood risk management projects.It provides insights for policymakers and practitioners involved in similar projects,contributing to more informed decision making and better allocation of resources in flood disaster risk management.展开更多
A smart wheelchair provides mobility assistance to persons with motor disabilities by processing sensory inputs from the person.This involves accurately collecting inputs from the user during various movement activiti...A smart wheelchair provides mobility assistance to persons with motor disabilities by processing sensory inputs from the person.This involves accurately collecting inputs from the user during various movement activities and using them to determine their intended motion.These smart wheelchairs work by collecting brain signals in the form of electroencephalography(EEG)signals and by processing them into a quantized format to provide movement assistance to people.Such systems can be referred to as brain-computer interface(BCI)systems that work with EEG signals.Acquiring data from human beings in the form of brain signals through EEG,along with processing of those signals and ensuring the correctness of actions instigated by those brain signals involve a huge amount of data.In this work,we carried out an experiment by taking 100 human subjects and recording their brain signals using a NeuroMax device.Typical wheelchairs are constrained by design as the motion of those is limited either by manual operation or controlled by haptic sensors and actuators.The main objective in this work was to design a wheelchair with better usability and control using machine learning-based knowledge,which is typically a data-driven approach.However,the proposed approach was designed to take inputs from human gestures and brain sensory activities to provide better usability to the wheelchair.The attention meditation cost–benefit analysis(AMCBA)proposed in this paper aims to reduce the risk of inappropriate results and improve performance by considering various cost-benefit parameters.The said classifier aims to improve the quality of emotion recognition by filtering features from EEG signals using methods of feature selection.The operation of the proposed method is described in two steps:in the first step,we assign weights to different channels for the extraction of spatial and temporal information from human behavior.The second step presents the cost-benefit model to improve the accuracy to help in decision-making.Moreover,we tried to assess the performance of the wheelchair for various assumptions and technical specifications.Finally,this study achieves improved performance in the most difficult circumstances to provide a better experience to persons with immobility.展开更多
China’s rapid economic growth has caused severe air pollution and public health problems.Therefore,the Chinese government launched the Action Plan for Air Pollution Prevention and Control(hereinafter referred to as ...China’s rapid economic growth has caused severe air pollution and public health problems.Therefore,the Chinese government launched the Action Plan for Air Pollution Prevention and Control(hereinafter referred to as the“Air Plan”)in 2013-2017 to improve air quality and safeguard public health.In this study,an analytical framework for a cost-benefit analysis applicable to China was constructed,and the costs and benefits of the implementation of the“Air Plan”in 30 cities and provinces in China from 2013 to 2017 were evaluated.Results show that the total cost of implementation of the“Air Plan”is 1.6511 trillion RMB.The benefits of air quality improvement were determined to be 2.4691 trillion RMB through the willingness-to-pay method to calculate the economic loss of premature deaths.The net benefit related to the implementation of the“Air Plan”was 818 billion RMB.The public health benefit of air quality improvement was 1.5 times the cost of the nationwide implementation of the“Air Plan”.At the provincial level,net benefits that reach 279.3 billion RMB were the highest in Guangdong,whereas the benefit-cost ratio,where the benefit was 5.5 times the cost,was the highest in Fujian.Estimations in this study can serve as a reference for China in formulating similar environmental policies and implementing the “3-year Plan to Defend the Blue Sky”.In addition,these estimations have practical significance for advancing the long-term effective mechanisms of the cost-benefit analysis of China5s environmental policies.展开更多
The paper is based on the summarization of forest certification development to analyze and describe how forest certification promotes and pushes the setup of forest resources management model, forest management level ...The paper is based on the summarization of forest certification development to analyze and describe how forest certification promotes and pushes the setup of forest resources management model, forest management level and collective forest tenure reform. In terms of breaking green trade barrier, upgrading international competitiveness of forest products, facilitating forestry enterprise growth, etc, it elaborated the role of forest certification in promoting forestry industry development. The authors also made an objective analysis on the costs and risks that China has to bear for conducting forest certification. Based on the comprehensive analysis on benefits and costs, the authors presented the specific recommendations on how China would conduct forest certification.展开更多
China’s long-term,low-emission development goals will hinge on effective low-carbon policies.Therefore,it is valuable to evaluate the costs and benefits of low-carbon policy packages to ensure that low-carbon develop...China’s long-term,low-emission development goals will hinge on effective low-carbon policies.Therefore,it is valuable to evaluate the costs and benefits of low-carbon policy packages to ensure that low-carbon development concepts and strategies can be well integrated into the policy making process.This work uses the Low-carbon Policy Assessment(LPA)model to assess long-term costs and benefits of climate and energy policies in China under the reference(RS)scenario and the low-carbon(LC)scenario,which includes 25 additional climate and energy policies.In the LC scenario,both energy-related CO2 emissions and total greenhouse gas(GHG)emissions peak around 2030,achieving China’s Nationally Determined Contribution(NDC)target.Of the policies included in the LC scenario,the five with the highest GHG mitigation potential beyond China’s existing policies are:fluorinated gas(F-gas)substitution,a renewable portfolio standard,carbon pricing,carbon capture utilization and storage(CCUS),and a fuel economy standard for heavy duty vehicles(HDVs).In addition to reducing GHG emissions,these policies decrease particulate emissions and associated premature deaths,which would otherwise reduce China’s GDP by nearly 1.5%in 2050.Together,these policies have the potential to promote significant low-carbon prosperity in China.展开更多
In this in-depth exploration, I delve into the complex implications and costs of cybersecurity breaches. Venturing beyond just the immediate repercussions, the research unearths both the overt and concealed long-term ...In this in-depth exploration, I delve into the complex implications and costs of cybersecurity breaches. Venturing beyond just the immediate repercussions, the research unearths both the overt and concealed long-term consequences that businesses encounter. This study integrates findings from various research, including quantitative reports, drawing upon real-world incidents faced by both small and large enterprises. This investigation emphasizes the profound intangible costs, such as trade name devaluation and potential damage to brand reputation, which can persist long after the breach. By collating insights from industry experts and a myriad of research, the study provides a comprehensive perspective on the profound, multi-dimensional impacts of cybersecurity incidents. The overarching aim is to underscore the often-underestimated scope and depth of these breaches, emphasizing the entire timeline post-incident and the urgent need for fortified preventative and reactive measures in the digital domain.展开更多
Within the inventory era, urban shrinkage characterized by economic decline and space decay has been widely witnessed in China. The modes and trajectories of urban redevelopment have thus become areas of major concern...Within the inventory era, urban shrinkage characterized by economic decline and space decay has been widely witnessed in China. The modes and trajectories of urban redevelopment have thus become areas of major concern for both policymakers and scholars. Taking the multi-actor participation nature of redevelopment, this paper stemming from the game-theoretical approach demonstrates in empirical terms on two major fronts. First, the redevelopment of industrial land without the transfer of land use right is shown to be deadlocked by the incapacitation of the original land-user and unlocked with the participation of the new developer. Second, the preference of the original land-user to maximize its interests by operating by itself rather than continue to cooperate with the new developer is observed in the post-redevelopment stage. Therein, the entrepreneurial local government acts only as a “mediator” between the two market entities and tends not to directly intervene in their cooperation. Thus that, it is the reasonable distribution of potential benefits or the pricing of different rights in the land property right bundle rather than their definition that matters more for land redevelopment. Because the delineation of land property rights has never been a problem in a mature land market, particularly for stock industrial land.展开更多
Payments for Ecosystem Services(PES)have been studied extensively over the past decade as an important policy tool for coordinating ecological protection and regional socioeconomic development.One of the greatest chal...Payments for Ecosystem Services(PES)have been studied extensively over the past decade as an important policy tool for coordinating ecological protection and regional socioeconomic development.One of the greatest challenges of PES implementation is to understand where to pay,i.e.,spatial targeting,which can directly impact PES effectiveness and efficiency.In this study,we conducted a systematic review of spatial targeting methods based on literature analysis using Citespace.Firstly,peer-reviewed articles related to spatial targeting of PES were selected from the Web of Science database based on keywords.Cases applying PES spatial targeting methods were then chosen and analyzed after all articles were read.In total,70%of the chosen cases focused on improving the compensation efficiency of biodiversity or another single environmental objective,whereas the remaining cases focused on coordinating trade-offs between equity and efficiency or multiple environmental objectives.The main PES spatial targeting approaches included cost-benefit analysis,multi-objective optimization,data envelope analysis and other methods aimed at specific issues.Of these,cost-benefit analysis has been most widely applied at different scales,including county,regional and watershed scales.Significant differences among the different PES spatial targeting methods were found,including in PES spatial targeting dimensions,efficiency optimization approaches and method application conditions.The practice of PES spatial targeting requires the selection of appropriate methods based on contextual biophysical and socioeconomic conditions as well as relevant environmental issues.The combined application of PES spatial targeting methods,compensation willingness of stakeholders and dynamic implementation of PES spatial targeting should be considered in future research.展开更多
AIM: To systematically review economic evaluations in gastroenterology, relating to Brazil, published between 1980 and 2013. METHODS: We selected full and partial economic evaluations from among those retrieved by sea...AIM: To systematically review economic evaluations in gastroenterology, relating to Brazil, published between 1980 and 2013. METHODS: We selected full and partial economic evaluations from among those retrieved by searching the following databases: MEDLINE(PubM ed); Excerpta Medica; the Latin American and Caribbean Health Sciences Literature database; the Scientific Electronic Library Online; the database of the Centre for Reviews and Dissemination; the National Health Service(NHS) Economic Evaluation Database; the NHS Health Technology Assessment database; the Health Economics database of the Brazilian Virtual Library of Health; Scopus; Web of Science; and the Brazilian Network for the Evaluation of Health Technologies. Two researchers, working independently, selected the studies and extracted the data. RESULTS: We ide nt if ie d 535 he alt h e c onomic evaluations relating to Brazil and published in the 1980-2013 period. Of those 535 articles, only 40 dealt with gastroenterology. Full and partial economic evaluations respectively accounted for 23(57.5%) and 17(42.5%) of the 40 studies included. Among the 23 full economic evaluations, there were 11 cost-utility analyses, seven cost-effectiveness analyses, four costconsequence analyses, and one cost-minimization analysis. Of the 40 studies, 25(62.5%) evaluated medications; 7(17.5%) evaluated procedures; and 3(7.5%) evaluated equipment. Most(55%) of the studies were related to viral hepatitis, and most(63.4%) were published after 2010. Other topics included gastrointestinal cancer, liver transplantation, digestive diseases and hernias. Over the 33-year period examined, the number of such economic evaluations relating to Brazil, especially of those evaluating medications for the treatment of hepatitis, increased considerably. CONCLUSION: Further studies are needed in order to ensure that expenditures on health care in Brazil are made as fairly and efficiently as possible.展开更多
Long-term flood risk adaptation and decision making are complex because the future is full of deep uncertainties.Flexibility and robustness can be used to deal with future uncertainty.This study developed an integrate...Long-term flood risk adaptation and decision making are complex because the future is full of deep uncertainties.Flexibility and robustness can be used to deal with future uncertainty.This study developed an integrated modeling framework that extends previous studies to the spatial domain to assess the future flood risks and the cost and benefit of three adaptation measures for four types of buildings in Shanghai.Real options analysis(ROA)and dynamic adaptive policy pathways(DAPP)were integrated to develop a dynamic adaptation pathway and identify robust adaptation options.The results show that:(1)Sea level rise and land subsidence will significantly exacerbate the flood risks in Shanghai;(2)Among the three flood control measures,wet-floodproofing has the best economic performance in terms of both the net present value and the benefit/cost ratio,followed by dry-floodproofing,and elevation;(3)Dryfloodproofing can be used at the beginning of the future period(2030–2100),and it can be replaced by wet-floodproofing in 2035–2042;the elevation measure also shows good performance at the beginning of implementation,but its performance will decline after 2041–2045;(4)The combined strategy of dry-and wet-floodproofing in 2044–2046and a hybrid strategy combining the three measures should be the optimal solution for reducing the flood risks in 2047–2051.The methodology developed in this study can provide insights for coastal cities to formulate cost-effective and feasible adaptation strategies in a deeply uncertain future.展开更多
With climate change and rising sea levels,the coastal zone’s flood risk is deteriorating.Previous researches have shown a gradually degrading capacity of traditional hard engineering structures(e.g.,seawall,dikes)on ...With climate change and rising sea levels,the coastal zone’s flood risk is deteriorating.Previous researches have shown a gradually degrading capacity of traditional hard engineering structures(e.g.,seawall,dikes)on flood mitigation due to problems such as land subsidence and insufficient maintenance.To remedy the defects,the"building with nature concept"for coastal protection with saltmarshes was examined by combining field measurements and numerical simulations.The advantages of saltmarsh over traditional seawall on flood protection was demonstrated from the perspective of both flood area mitigation and economic gain,based on scenario simulations.Results show that tidal wetlands are essential in mitigating significant wave heights(Hs)and current velocities even during storm conditions.The storm wave and current velocity reduction ratio(RRw and RRc)by saltmarshes on Chongming Dongtan Shoal(CMDS)during Typhoon 9711 is approximately 11%and 51%,respectively.The wave and current mitigation by Scirpus mariqueter are more efficient than Spartina alterniflora and Phragmites australis during measurements in 2010,which were approximately 0.3 m and 0.2 m/s,0.125 m and 0.155 m/s,0.086 m and 0.128 m/s per kilometer width,respectively.The summer saltmarsh area 54.2 km2 on CMDS protects approximately 32 km^(2)land area behind the seawall from being flooded,equivalent to the seawall heightening of approximately 0.42 m on equivalent flood mitigation.The performance of cost-and-benefit analysis shows a relatively higher(by 3%–7%)net present value(NPV)and a higher(by 1.5 times)benefit-cost ratio(BC)of nature-based solution(i.e.,saltmarsh restoration)compared with traditional hard engineering solution(i.e.,seawall construction).Thus,building seawall with nature,such as a hybrid flood protection measure,should be implemented in the future coastal redesign and maintenance.展开更多
With the global economy integration and progress in energy transformation,it has become a general trend to surpass national boundaries to achieve wider and optimal energy resource allocations.Consequently,there is a c...With the global economy integration and progress in energy transformation,it has become a general trend to surpass national boundaries to achieve wider and optimal energy resource allocations.Consequently,there is a critical n eed to adopt scie ntific approaches in assessi ng cross-border power grid interconnection projects.First,con sidering the promotion of large-scale renewable energy resources and improvements in system adequacy,a comprehensive assessment index system,including costs,socio-economic benefits,environmental benefits,and technical benefits,is established in this study.Second,a synthetic assessment framework is proposed for cross-border power grid interconnection projects based on the index system comprising cost-benefit analysis,with market and network simulations,iterative methods for indicator weight evaluation,and technique for order preferenee by similarity to an ideal solution(TOPSIS)method for the project rankings.Fin ally,by assessi ng and comparing three cross-border projects betwee n Europe and Asia,the proposed index system and assessment framework have been proved to be effective and feasible;the results of this system can thus support investment decision-making related to such projects in the future.展开更多
PM_(2.5)concentrations have dramatically reduced in key regions of China during the period 2013-2017,while O_(3)has increased.Hence there is an urgent demand to develop a synergetic regional PM_(2.5)and O_(3)control s...PM_(2.5)concentrations have dramatically reduced in key regions of China during the period 2013-2017,while O_(3)has increased.Hence there is an urgent demand to develop a synergetic regional PM_(2.5)and O_(3)control strategy.This study develops an emission-to-concentration response surface model and proposes a synergetic pathway for PM_(2.5)and O_(3)control in the Yangtze River Delta(YRD)based on the framework of the Air Benefit and Cost and Attainment Assessment System(ABaCAS).Results suggest that the regional emissions of NOx,SO_(2),NH3,VOCs(volatile organic compounds)and primary PM_(2.5)should be reduced by 18%,23%,14%,17%and 33%compared with 2017 to achieve 25%and 5% decreases of PM_(2.5)and O_(3)in 2025,and that the emission reduction ratios will need to be 50%,26%,28%,28% and 55%to attain the National Ambient Air Quality Standard.To effectively reduce the O_(3) pollution in the central and eastern YRD,VOCs controls need to be strengthened to reduce O_(3)by 5%,and then NOx reduction should be accelerated for air quality attainment.Meanwhile,control of primary PM_(2.5)emissions shall be prioritized to address the severe PM_(2.5)pollution in the northern YRD.For most cities in the YRD,the VOCs emission reduction ratio should be higher than that for NOx in Spring and Autumn.NOx control should be increased in summer rather than winter when a strong VOC-limited regime occurs.Besides,regarding the emission control of industrial processes,on-road vehicle and residential sources shall be prioritized and the joint control area should be enlarged to include Shandong,Jiangxi and Hubei Province for effective O_(3)control.展开更多
Cities worldwide are geared to promote economic growth,improve accessibility,address environmental issues,and enhance the quality of life.However,the processes that lead to the design of urban roads,particularly the s...Cities worldwide are geared to promote economic growth,improve accessibility,address environmental issues,and enhance the quality of life.However,the processes that lead to the design of urban roads,particularly the space distribution,reflect the inequalities existing in the fabric of our society.Motorists often have shorter travel time and more space than passengers of other modes.Furthermore,the existing transport appraisal and planning tools that frame sustainable transport policies fall short of considering the dimension of social justice.Therefore,our urban transport systems are essential areas for advancing sustainability through a transport justice-based approach to planning that can pivot the distribution of infrastructure investments over different social groups and transport modes.This study proposes such an approach by which such suitable urban transport strategies can be identified,co-created with users and appraised while considering the commuters’needs.Specifically,the interaction between the multidimensional characteristics of sustainability and the principles of transport justice are investigated.The proposed approach is applied to London and Birmingham.The results show that a transparent and holistic approach to integrating users within transport planning is an effective way to reflect diverse needs and local circumstances and thereby ensure a just transition to sustainable urban transport policies.The results from the case studies highlight a strong rationale for the centrality of justice in any urban transport planning and policy making efforts,particularly in the allocation of road space.展开更多
In this paper, a cost-benefit analysis based optimal planning model of battery energy storage system(BESS) in active distribution system(ADS) is established considering a new BESS operation strategy. Reliability impro...In this paper, a cost-benefit analysis based optimal planning model of battery energy storage system(BESS) in active distribution system(ADS) is established considering a new BESS operation strategy. Reliability improvement benefit of BESS is considered and a numerical calculation method based on expectation is proposed for simple and convenient calculation of system reliability improvement with BESS in planning phase. Decision variables include both configuration variables and operation strategy control variables. In order to prevent the interaction between two types of variables and enhance global search ability, intelligent single particle optimizer(ISPO) is adopted to optimize this model. Case studies on a modified IEEE benchmark system verified the performance of the proposed operation strategy and optimal planning model of BESS.展开更多
While a growing number of wastewater treatment plants(WWTPs)are being retrofitted from the conventional activated sludge(CAS)process to the membrane bioreactor(MBR)process,the debate on the techno-economy of MBR vs.CA...While a growing number of wastewater treatment plants(WWTPs)are being retrofitted from the conventional activated sludge(CAS)process to the membrane bioreactor(MBR)process,the debate on the techno-economy of MBR vs.CAS has continued and calls for a thorough assessment based on techno-economic valuation.In this study,we analyzed the operating data of 20 large-scale WWTPs(capacity≥10000 m^(3)/d)and compared their techno-economy before and after the retrofitting from CAS to MBR.Through cost-benefit analysis,we evaluated the net profit by subtracting the operating cost from the environmental benefit(estimated by the shadow price of pollutant removal and water reclamation).After the retrofitting,the removal rate of pollutants increased(e.g.,from 89.0%to 93.3%on average for NH3-N),the average energy consumption increased from 0.40 to 0.57 kWh/m^(3),but the operating cost did not increase significantly.The average marginal environmental benefit increased remarkably(from 0.47 to 0.66 CNY/g for NH3-N removal),leading to an increase in the average net profit from 19.4 to 24.4 CNY/mJ.We further scored the technical efficiencies via data envelopment analysis based on non-radial directional distance functions.After the retrofitting,the relative cost efficiency increased from 0.70 to 0.73(the theoretical maximum is 1),while the relative energy efficiency did not change significantly.The techno-economy is closely related to the effluent standard adopted,particularly when truncating the extra benefit of pollutant removal beyond the standard in economic modeling.The modeling results suggested that MBR is more profitable than CAS given stricter effluent standards.展开更多
In recent years, cost-benefit analysis(CBA) has played an important role in disaster risk reduction(DRR)investment decisions, and now increasing attention is being paid to its application in developing countries. This...In recent years, cost-benefit analysis(CBA) has played an important role in disaster risk reduction(DRR)investment decisions, and now increasing attention is being paid to its application in developing countries. This article discusses government investment choices in DRR against typhoon disasters in Shenzhen, China. While the existing literature mainly focuses on disaster mitigation measures such as structural retrofitting, this study proposes a holistic framework of DRR investments in which structural(windproof retrofitting) and financial(insurance premium subsidies and post-disaster relief) are all taken into account.In particular, intermeasure spillover effects are measured and used in CBA. The results show that insurance premium subsidies yield the highest benefit-cost ratio and should be prioritized in investment. Windproof retrofitting comes in second place in terms of the benefit-cost ratio and can be considered when there is a sufficient budget. These results further confirm the need of a holistic review of government DRR investments to derive policy recommendations, while challenges remain in relation to the probabilistic modeling capacity to support CBA.展开更多
基金This work was funded by the Israel National Coal Ash Board(INCAB)Grant#39477.The authors wish to express their deep gratitude to the late Mr.Omri Lulav,Head of the INCAB.
文摘A tool for calculating the economic and environmental impacts of the use of byproducts of industrial processes that can substitute for perishable resources was presented.This was exemplified by fly ash(the fine fraction of ash originating from coal burned to generate electricity and collected by filtering exhaust gases leaving the furnace),added to soil as a component of sewage sludge stabilized with fly ash and lime(NVS).Application to soil of NVS has potential agricultural and environmental advantages and disadvantages.The costs and benefits of such application were calculated using both a database and expert opinions.The calculations assumed a representative assemblage of soils and crops,with weights assigned to each crop type and soil characteristic.The annual weighted benefits(additional income for the farmer)and costs per hectare reached 324$/ha and 131$/ha respectively.Major potential benefits include:Chemical fertilizer replacement,159$/ha;Improvement to the soil’s physical properties,75$/ha;Supply of vital trace elements,33$/ha.Major potential costs were:Regulatory limitations on marketing of crops pending proof of absence of risk of heavy metals or radionuclides accumulation in these crops,(17$/ha and 36$/ha respectively);Application and incorporation cost,50$/ha.The presented estimates of the costs and benefits refer to the array of soils and conditions typical to Israel.It is possible to maximize potential benefits by applying fly ash only to the most suitable agricultural soils while improper use of fly ash will increase the costs incurred from its use.
基金The work was supported by the National Nature Science Foundation of China(71532009,71320107003,71271145)Core Projects in Tianjin Education Bureaus Social Science Program(2014ZD13)Tianjin Development Program for Innovation and Entrepreneurship.
文摘With the introduction of many derivatives into the capital market,including stock index futures,the trading strategies in financial markets have been gradually enriched.However,there is still no theoretical model that can determine whether these strategies are effective,what the risks are,and how costly the strategies are.We built an agent-based cross-market platform that includes five stocks and one stock index future,and constructed an evaluation system for stock index futures trading strategies.The evaluation system includes four dimensions:effectiveness,risk,occupation of capital,and impact cost.The results show that the informed strategy performs well in all aspects.The risk of the technical strategy is relatively higher than that of the other strategies.Moreover,occupation of capital and impact cost are both higher for the arbitrage strategy.Finally,the wealth of noise traders is almost lost.
基金funded by the National Key Research and Development Program of China(Grant No.2022YFC3006404-02).
文摘Evaluation of the economic costs and benefits of flood disaster risk management projects is crucial.However,current costbenefit analyses(CBA) often lack reliable estimates of the expected loss reduction from flood control measures and ignore quantitative assessments of resettlement.To address these limitations,this study incorporated a probabilistic risk analysis method and quantitative resettlement benefits assessment into the CBA framework,using the Wuxikou Integrated Flood Management Project(WIFMP) in Jiangxi Province,China,as a case study.The direct economic benefits of flood control were estimated by integrating hydrological statistics,numerical flood inundation simulation,and quantitative damage analysis with exposure and vulnerability data.Furthermore,the resettlement benefits were quantified by measuring the annual income growth of migrants based on assumptions about household employment.Our analysis shows that the total WIFMP investment is RMB 3546.1 million yuan(USD 1=RMB 6.976 yuan),including loan principal and interest of 244.4 million yuan,and operations and maintenance of 605.5 million yuan at 2020 prices.Annual project benefits are estimated at 351.3 million yuan in flood risk reduction,155.7-191.9 million yuan from increased resettlement income,and 42.7 million yuan in power and water revenues.Considering the costs and benefits across the entire project lifecycle,the internal rate of return ranges from 13.7 to 14.2%,and the net present value ranges from 31.8 to 352.6 billion yuan.Through improved benefit estimation methodology,this research enables a more reliable and holistic evaluation of costs and benefits for flood risk management projects.It provides insights for policymakers and practitioners involved in similar projects,contributing to more informed decision making and better allocation of resources in flood disaster risk management.
文摘A smart wheelchair provides mobility assistance to persons with motor disabilities by processing sensory inputs from the person.This involves accurately collecting inputs from the user during various movement activities and using them to determine their intended motion.These smart wheelchairs work by collecting brain signals in the form of electroencephalography(EEG)signals and by processing them into a quantized format to provide movement assistance to people.Such systems can be referred to as brain-computer interface(BCI)systems that work with EEG signals.Acquiring data from human beings in the form of brain signals through EEG,along with processing of those signals and ensuring the correctness of actions instigated by those brain signals involve a huge amount of data.In this work,we carried out an experiment by taking 100 human subjects and recording their brain signals using a NeuroMax device.Typical wheelchairs are constrained by design as the motion of those is limited either by manual operation or controlled by haptic sensors and actuators.The main objective in this work was to design a wheelchair with better usability and control using machine learning-based knowledge,which is typically a data-driven approach.However,the proposed approach was designed to take inputs from human gestures and brain sensory activities to provide better usability to the wheelchair.The attention meditation cost–benefit analysis(AMCBA)proposed in this paper aims to reduce the risk of inappropriate results and improve performance by considering various cost-benefit parameters.The said classifier aims to improve the quality of emotion recognition by filtering features from EEG signals using methods of feature selection.The operation of the proposed method is described in two steps:in the first step,we assign weights to different channels for the extraction of spatial and temporal information from human behavior.The second step presents the cost-benefit model to improve the accuracy to help in decision-making.Moreover,we tried to assess the performance of the wheelchair for various assumptions and technical specifications.Finally,this study achieves improved performance in the most difficult circumstances to provide a better experience to persons with immobility.
文摘China’s rapid economic growth has caused severe air pollution and public health problems.Therefore,the Chinese government launched the Action Plan for Air Pollution Prevention and Control(hereinafter referred to as the“Air Plan”)in 2013-2017 to improve air quality and safeguard public health.In this study,an analytical framework for a cost-benefit analysis applicable to China was constructed,and the costs and benefits of the implementation of the“Air Plan”in 30 cities and provinces in China from 2013 to 2017 were evaluated.Results show that the total cost of implementation of the“Air Plan”is 1.6511 trillion RMB.The benefits of air quality improvement were determined to be 2.4691 trillion RMB through the willingness-to-pay method to calculate the economic loss of premature deaths.The net benefit related to the implementation of the“Air Plan”was 818 billion RMB.The public health benefit of air quality improvement was 1.5 times the cost of the nationwide implementation of the“Air Plan”.At the provincial level,net benefits that reach 279.3 billion RMB were the highest in Guangdong,whereas the benefit-cost ratio,where the benefit was 5.5 times the cost,was the highest in Fujian.Estimations in this study can serve as a reference for China in formulating similar environmental policies and implementing the “3-year Plan to Defend the Blue Sky”.In addition,these estimations have practical significance for advancing the long-term effective mechanisms of the cost-benefit analysis of China5s environmental policies.
文摘The paper is based on the summarization of forest certification development to analyze and describe how forest certification promotes and pushes the setup of forest resources management model, forest management level and collective forest tenure reform. In terms of breaking green trade barrier, upgrading international competitiveness of forest products, facilitating forestry enterprise growth, etc, it elaborated the role of forest certification in promoting forestry industry development. The authors also made an objective analysis on the costs and risks that China has to bear for conducting forest certification. Based on the comprehensive analysis on benefits and costs, the authors presented the specific recommendations on how China would conduct forest certification.
基金supported by The National Key Research and Development Program of China[Grant No.2016YFA0602800].
文摘China’s long-term,low-emission development goals will hinge on effective low-carbon policies.Therefore,it is valuable to evaluate the costs and benefits of low-carbon policy packages to ensure that low-carbon development concepts and strategies can be well integrated into the policy making process.This work uses the Low-carbon Policy Assessment(LPA)model to assess long-term costs and benefits of climate and energy policies in China under the reference(RS)scenario and the low-carbon(LC)scenario,which includes 25 additional climate and energy policies.In the LC scenario,both energy-related CO2 emissions and total greenhouse gas(GHG)emissions peak around 2030,achieving China’s Nationally Determined Contribution(NDC)target.Of the policies included in the LC scenario,the five with the highest GHG mitigation potential beyond China’s existing policies are:fluorinated gas(F-gas)substitution,a renewable portfolio standard,carbon pricing,carbon capture utilization and storage(CCUS),and a fuel economy standard for heavy duty vehicles(HDVs).In addition to reducing GHG emissions,these policies decrease particulate emissions and associated premature deaths,which would otherwise reduce China’s GDP by nearly 1.5%in 2050.Together,these policies have the potential to promote significant low-carbon prosperity in China.
文摘In this in-depth exploration, I delve into the complex implications and costs of cybersecurity breaches. Venturing beyond just the immediate repercussions, the research unearths both the overt and concealed long-term consequences that businesses encounter. This study integrates findings from various research, including quantitative reports, drawing upon real-world incidents faced by both small and large enterprises. This investigation emphasizes the profound intangible costs, such as trade name devaluation and potential damage to brand reputation, which can persist long after the breach. By collating insights from industry experts and a myriad of research, the study provides a comprehensive perspective on the profound, multi-dimensional impacts of cybersecurity incidents. The overarching aim is to underscore the often-underestimated scope and depth of these breaches, emphasizing the entire timeline post-incident and the urgent need for fortified preventative and reactive measures in the digital domain.
基金National Natural Science Foundation of China (41971215, 41701193)Youth Innovation Promotion Association, Chinese Academy of Sciences (2022317)。
文摘Within the inventory era, urban shrinkage characterized by economic decline and space decay has been widely witnessed in China. The modes and trajectories of urban redevelopment have thus become areas of major concern for both policymakers and scholars. Taking the multi-actor participation nature of redevelopment, this paper stemming from the game-theoretical approach demonstrates in empirical terms on two major fronts. First, the redevelopment of industrial land without the transfer of land use right is shown to be deadlocked by the incapacitation of the original land-user and unlocked with the participation of the new developer. Second, the preference of the original land-user to maximize its interests by operating by itself rather than continue to cooperate with the new developer is observed in the post-redevelopment stage. Therein, the entrepreneurial local government acts only as a “mediator” between the two market entities and tends not to directly intervene in their cooperation. Thus that, it is the reasonable distribution of potential benefits or the pricing of different rights in the land property right bundle rather than their definition that matters more for land redevelopment. Because the delineation of land property rights has never been a problem in a mature land market, particularly for stock industrial land.
基金supported by the Second Tibetan Plateau Scientific Expedition and Research(STEP)program(Grant No.2019QZKK0307)the China National Social Science Funding of Major Projects(Grant No.18VSJ100)National Natural Science Foundation of China(Grant No.41925005).
文摘Payments for Ecosystem Services(PES)have been studied extensively over the past decade as an important policy tool for coordinating ecological protection and regional socioeconomic development.One of the greatest challenges of PES implementation is to understand where to pay,i.e.,spatial targeting,which can directly impact PES effectiveness and efficiency.In this study,we conducted a systematic review of spatial targeting methods based on literature analysis using Citespace.Firstly,peer-reviewed articles related to spatial targeting of PES were selected from the Web of Science database based on keywords.Cases applying PES spatial targeting methods were then chosen and analyzed after all articles were read.In total,70%of the chosen cases focused on improving the compensation efficiency of biodiversity or another single environmental objective,whereas the remaining cases focused on coordinating trade-offs between equity and efficiency or multiple environmental objectives.The main PES spatial targeting approaches included cost-benefit analysis,multi-objective optimization,data envelope analysis and other methods aimed at specific issues.Of these,cost-benefit analysis has been most widely applied at different scales,including county,regional and watershed scales.Significant differences among the different PES spatial targeting methods were found,including in PES spatial targeting dimensions,efficiency optimization approaches and method application conditions.The practice of PES spatial targeting requires the selection of appropriate methods based on contextual biophysical and socioeconomic conditions as well as relevant environmental issues.The combined application of PES spatial targeting methods,compensation willingness of stakeholders and dynamic implementation of PES spatial targeting should be considered in future research.
基金Supported by The Funda??o de AmparoàPesquisa do Estado de S?o Paulo(FAPESP,S?o Paulo Research Foundation)as part of a larger project entitled "Systematic review of health economic evaluations conducted in Brazil,1980-2013"carried out under the leadership of Professor Patricia Coelho de Soárez,No.2012/22126-3
文摘AIM: To systematically review economic evaluations in gastroenterology, relating to Brazil, published between 1980 and 2013. METHODS: We selected full and partial economic evaluations from among those retrieved by searching the following databases: MEDLINE(PubM ed); Excerpta Medica; the Latin American and Caribbean Health Sciences Literature database; the Scientific Electronic Library Online; the database of the Centre for Reviews and Dissemination; the National Health Service(NHS) Economic Evaluation Database; the NHS Health Technology Assessment database; the Health Economics database of the Brazilian Virtual Library of Health; Scopus; Web of Science; and the Brazilian Network for the Evaluation of Health Technologies. Two researchers, working independently, selected the studies and extracted the data. RESULTS: We ide nt if ie d 535 he alt h e c onomic evaluations relating to Brazil and published in the 1980-2013 period. Of those 535 articles, only 40 dealt with gastroenterology. Full and partial economic evaluations respectively accounted for 23(57.5%) and 17(42.5%) of the 40 studies included. Among the 23 full economic evaluations, there were 11 cost-utility analyses, seven cost-effectiveness analyses, four costconsequence analyses, and one cost-minimization analysis. Of the 40 studies, 25(62.5%) evaluated medications; 7(17.5%) evaluated procedures; and 3(7.5%) evaluated equipment. Most(55%) of the studies were related to viral hepatitis, and most(63.4%) were published after 2010. Other topics included gastrointestinal cancer, liver transplantation, digestive diseases and hernias. Over the 33-year period examined, the number of such economic evaluations relating to Brazil, especially of those evaluating medications for the treatment of hepatitis, increased considerably. CONCLUSION: Further studies are needed in order to ensure that expenditures on health care in Brazil are made as fairly and efficiently as possible.
基金funded by the National Key Research and Development Program of China (Grant No. 2018YFC1508803)the National Social Science Foundation of China (Grant No. 18ZDA105)+1 种基金the National Natural Science Foundation of China (Grant No. 41971199, 42171080, 42001182)the Shanghai Science and Technology Support Program (Grant No. 19DZ1201505)
文摘Long-term flood risk adaptation and decision making are complex because the future is full of deep uncertainties.Flexibility and robustness can be used to deal with future uncertainty.This study developed an integrated modeling framework that extends previous studies to the spatial domain to assess the future flood risks and the cost and benefit of three adaptation measures for four types of buildings in Shanghai.Real options analysis(ROA)and dynamic adaptive policy pathways(DAPP)were integrated to develop a dynamic adaptation pathway and identify robust adaptation options.The results show that:(1)Sea level rise and land subsidence will significantly exacerbate the flood risks in Shanghai;(2)Among the three flood control measures,wet-floodproofing has the best economic performance in terms of both the net present value and the benefit/cost ratio,followed by dry-floodproofing,and elevation;(3)Dryfloodproofing can be used at the beginning of the future period(2030–2100),and it can be replaced by wet-floodproofing in 2035–2042;the elevation measure also shows good performance at the beginning of implementation,but its performance will decline after 2041–2045;(4)The combined strategy of dry-and wet-floodproofing in 2044–2046and a hybrid strategy combining the three measures should be the optimal solution for reducing the flood risks in 2047–2051.The methodology developed in this study can provide insights for coastal cities to formulate cost-effective and feasible adaptation strategies in a deeply uncertain future.
基金The National Natural Science Foundation of China under contract Nos 51761135024,42171282 and 41701001the Key Projects of Intergovernmental Science and Technology Innovation Cooperation of the Ministry of Science and Technology in China under contract No.2018YFE0109900+1 种基金the International Science&Technology Cooperation s of Shanghai Science and Technology Commission under contract No.19230712400the China Postdoctoral Science Foundation under contract No.2018M630414。
文摘With climate change and rising sea levels,the coastal zone’s flood risk is deteriorating.Previous researches have shown a gradually degrading capacity of traditional hard engineering structures(e.g.,seawall,dikes)on flood mitigation due to problems such as land subsidence and insufficient maintenance.To remedy the defects,the"building with nature concept"for coastal protection with saltmarshes was examined by combining field measurements and numerical simulations.The advantages of saltmarsh over traditional seawall on flood protection was demonstrated from the perspective of both flood area mitigation and economic gain,based on scenario simulations.Results show that tidal wetlands are essential in mitigating significant wave heights(Hs)and current velocities even during storm conditions.The storm wave and current velocity reduction ratio(RRw and RRc)by saltmarshes on Chongming Dongtan Shoal(CMDS)during Typhoon 9711 is approximately 11%and 51%,respectively.The wave and current mitigation by Scirpus mariqueter are more efficient than Spartina alterniflora and Phragmites australis during measurements in 2010,which were approximately 0.3 m and 0.2 m/s,0.125 m and 0.155 m/s,0.086 m and 0.128 m/s per kilometer width,respectively.The summer saltmarsh area 54.2 km2 on CMDS protects approximately 32 km^(2)land area behind the seawall from being flooded,equivalent to the seawall heightening of approximately 0.42 m on equivalent flood mitigation.The performance of cost-and-benefit analysis shows a relatively higher(by 3%–7%)net present value(NPV)and a higher(by 1.5 times)benefit-cost ratio(BC)of nature-based solution(i.e.,saltmarsh restoration)compared with traditional hard engineering solution(i.e.,seawall construction).Thus,building seawall with nature,such as a hybrid flood protection measure,should be implemented in the future coastal redesign and maintenance.
基金the Science and Technology Project of Global Energy Interconnection Group Co.,Ltd.(No.524500180014).
文摘With the global economy integration and progress in energy transformation,it has become a general trend to surpass national boundaries to achieve wider and optimal energy resource allocations.Consequently,there is a critical n eed to adopt scie ntific approaches in assessi ng cross-border power grid interconnection projects.First,con sidering the promotion of large-scale renewable energy resources and improvements in system adequacy,a comprehensive assessment index system,including costs,socio-economic benefits,environmental benefits,and technical benefits,is established in this study.Second,a synthetic assessment framework is proposed for cross-border power grid interconnection projects based on the index system comprising cost-benefit analysis,with market and network simulations,iterative methods for indicator weight evaluation,and technique for order preferenee by similarity to an ideal solution(TOPSIS)method for the project rankings.Fin ally,by assessi ng and comparing three cross-border projects betwee n Europe and Asia,the proposed index system and assessment framework have been proved to be effective and feasible;the results of this system can thus support investment decision-making related to such projects in the future.
基金supported by the Key Projects of National Key Research and Development Program of the Ministry of Science and Technology of China(No.2018YFC0213805)Shanghai Science and Technology Commission Scientific Research Project(No.19DZ1205006)+2 种基金the National Natural Science Foundation of China(Nos.92044302 and 21625701)the Samsung Advanced Institute of Technologysupported by the Tencent Foundation through the Explorer Prize。
文摘PM_(2.5)concentrations have dramatically reduced in key regions of China during the period 2013-2017,while O_(3)has increased.Hence there is an urgent demand to develop a synergetic regional PM_(2.5)and O_(3)control strategy.This study develops an emission-to-concentration response surface model and proposes a synergetic pathway for PM_(2.5)and O_(3)control in the Yangtze River Delta(YRD)based on the framework of the Air Benefit and Cost and Attainment Assessment System(ABaCAS).Results suggest that the regional emissions of NOx,SO_(2),NH3,VOCs(volatile organic compounds)and primary PM_(2.5)should be reduced by 18%,23%,14%,17%and 33%compared with 2017 to achieve 25%and 5% decreases of PM_(2.5)and O_(3)in 2025,and that the emission reduction ratios will need to be 50%,26%,28%,28% and 55%to attain the National Ambient Air Quality Standard.To effectively reduce the O_(3) pollution in the central and eastern YRD,VOCs controls need to be strengthened to reduce O_(3)by 5%,and then NOx reduction should be accelerated for air quality attainment.Meanwhile,control of primary PM_(2.5)emissions shall be prioritized to address the severe PM_(2.5)pollution in the northern YRD.For most cities in the YRD,the VOCs emission reduction ratio should be higher than that for NOx in Spring and Autumn.NOx control should be increased in summer rather than winter when a strong VOC-limited regime occurs.Besides,regarding the emission control of industrial processes,on-road vehicle and residential sources shall be prioritized and the joint control area should be enlarged to include Shandong,Jiangxi and Hubei Province for effective O_(3)control.
基金The financial supports from the ESRC through the Impact Acceleration(ES/T501839/1)EPSRC through the grant for the UKCRIC Coordination Node(EP/R017727),CSIC Innovation and Knowledge Centre Phase 2(EP/N021614/1)and Research Hub for Decarbonised Adaptable and Resilient Transport Infrastructure(EP/Y024257/1)Innovate UK through the grant for Centre for Smart Infrastructure and Construction(920035)are gratefully acknowledged.The authors are also thankful to the members of the public who participated in the national survey and focus groups.
文摘Cities worldwide are geared to promote economic growth,improve accessibility,address environmental issues,and enhance the quality of life.However,the processes that lead to the design of urban roads,particularly the space distribution,reflect the inequalities existing in the fabric of our society.Motorists often have shorter travel time and more space than passengers of other modes.Furthermore,the existing transport appraisal and planning tools that frame sustainable transport policies fall short of considering the dimension of social justice.Therefore,our urban transport systems are essential areas for advancing sustainability through a transport justice-based approach to planning that can pivot the distribution of infrastructure investments over different social groups and transport modes.This study proposes such an approach by which such suitable urban transport strategies can be identified,co-created with users and appraised while considering the commuters’needs.Specifically,the interaction between the multidimensional characteristics of sustainability and the principles of transport justice are investigated.The proposed approach is applied to London and Birmingham.The results show that a transparent and holistic approach to integrating users within transport planning is an effective way to reflect diverse needs and local circumstances and thereby ensure a just transition to sustainable urban transport policies.The results from the case studies highlight a strong rationale for the centrality of justice in any urban transport planning and policy making efforts,particularly in the allocation of road space.
文摘In this paper, a cost-benefit analysis based optimal planning model of battery energy storage system(BESS) in active distribution system(ADS) is established considering a new BESS operation strategy. Reliability improvement benefit of BESS is considered and a numerical calculation method based on expectation is proposed for simple and convenient calculation of system reliability improvement with BESS in planning phase. Decision variables include both configuration variables and operation strategy control variables. In order to prevent the interaction between two types of variables and enhance global search ability, intelligent single particle optimizer(ISPO) is adopted to optimize this model. Case studies on a modified IEEE benchmark system verified the performance of the proposed operation strategy and optimal planning model of BESS.
基金This study was sponsored by the Beijing Natural Science Foundation(No.L182044)Youth Innovation Promotion Association CAS(No.2019172).
文摘While a growing number of wastewater treatment plants(WWTPs)are being retrofitted from the conventional activated sludge(CAS)process to the membrane bioreactor(MBR)process,the debate on the techno-economy of MBR vs.CAS has continued and calls for a thorough assessment based on techno-economic valuation.In this study,we analyzed the operating data of 20 large-scale WWTPs(capacity≥10000 m^(3)/d)and compared their techno-economy before and after the retrofitting from CAS to MBR.Through cost-benefit analysis,we evaluated the net profit by subtracting the operating cost from the environmental benefit(estimated by the shadow price of pollutant removal and water reclamation).After the retrofitting,the removal rate of pollutants increased(e.g.,from 89.0%to 93.3%on average for NH3-N),the average energy consumption increased from 0.40 to 0.57 kWh/m^(3),but the operating cost did not increase significantly.The average marginal environmental benefit increased remarkably(from 0.47 to 0.66 CNY/g for NH3-N removal),leading to an increase in the average net profit from 19.4 to 24.4 CNY/mJ.We further scored the technical efficiencies via data envelopment analysis based on non-radial directional distance functions.After the retrofitting,the relative cost efficiency increased from 0.70 to 0.73(the theoretical maximum is 1),while the relative energy efficiency did not change significantly.The techno-economy is closely related to the effluent standard adopted,particularly when truncating the extra benefit of pollutant removal beyond the standard in economic modeling.The modeling results suggested that MBR is more profitable than CAS given stricter effluent standards.
基金Financial support from the China 973 Project under grant 2012CB955404the State Key Laboratory of Earth Surface Processes and Resource Ecology of China Project under Grant 2015-ZY-17
文摘In recent years, cost-benefit analysis(CBA) has played an important role in disaster risk reduction(DRR)investment decisions, and now increasing attention is being paid to its application in developing countries. This article discusses government investment choices in DRR against typhoon disasters in Shenzhen, China. While the existing literature mainly focuses on disaster mitigation measures such as structural retrofitting, this study proposes a holistic framework of DRR investments in which structural(windproof retrofitting) and financial(insurance premium subsidies and post-disaster relief) are all taken into account.In particular, intermeasure spillover effects are measured and used in CBA. The results show that insurance premium subsidies yield the highest benefit-cost ratio and should be prioritized in investment. Windproof retrofitting comes in second place in terms of the benefit-cost ratio and can be considered when there is a sufficient budget. These results further confirm the need of a holistic review of government DRR investments to derive policy recommendations, while challenges remain in relation to the probabilistic modeling capacity to support CBA.
