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23:28 Dec 18, 2014 |
Spanish to English translations [PRO] Economics / Calculation of earthquake losses | |||||||
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| Selected response from: Charles Davis Spain Local time: 14:30 | ||||||
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Summary of answers provided | ||||
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4 +3 | exposure value |
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3 | risk value |
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risk value Explanation: just a guess |
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exposure value Explanation: The difference between $46.3 million and $ 3.842 billion is the difference between actual and potential losses: the "valor expuesto" is the total value of all the property exposed to risk: in English, the exposure value. It's an insurance concept. The following is from a study of potential damage from various magnitudes of earthquake on Briarcliff Manor, NY: "After considering the population exposed to the earthquake hazard, the value of general building stock exposed to, and damaged by, 100-, 500- and 2,500-year MRP earthquake events was evaluated. [...]" See Table 5-31, which gives the "exposure value" for residential buildings (92.2% of "total exposure value" for the town) as $1,074,198,000. This is the total value of residential buildings. Then Table 5-33 gives the building loss (structural damage only) for residential buildings as $871,200 for a "500-year event" and $9,096,630 for a "2,500-year event". http://www.briarcliffmanor.org/pages/BriarcliffManorNY_Trust... pp. 23-25 (5-87-5-89). "The loss amount refers to building loss only. Mean damage ratio is the ratio of the loss amount over the exposure value." As you can see from Table 1 just below this (p. 7 of the file), this ratio is of the order of 6%, which is the actual loss amount as a percentage of the total potential loss: the total value of everything exposed to the risk of earthquake damage. Historical Earthquakes and Earthquake Risk in the People’s Republic of China (PRC) http://www.adb.org/sites/default/files/publication/28481/adb... "The damage rate in column 5 is housing damage in thousands of dollars from the scenario divided by housing exposure from HAZUS for each income group, and total housing damage in column 6 is the damage rate multiplied by housing exposure from column two. [...] Although housing exposure value is highest in the highest income quintile, the damages and damage rate are greater in the lower income quintiles." Measuring earthquake risk concentration for hazard mitigation Richard Bernknopf & Paul Amos (p. 20) http://gislab.wharton.upenn.edu/Papers/Measuring Earthquake ... |
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