Geohazards in Social Systems: An Insurance Matrix Approach

Sam Cole ()
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Sam Cole: University at Buffalo

Chapter 6 in Modeling Spatial and Economic Impacts of Disasters, 2004, pp 103-118 from Springer

Abstract: Abstract The principle goal of the chapter is to explore ways of solving social accounting matrices (SAMs) that may be useful for estimating the impact of natural and other disasters and the effectiveness of recovery programs. To this end my chapter introduces a model to assess the way in which disasters affect social actors and propagate through society. It adopts findings from disaster research and anthropology, to embody social transactions in an insurance accounting matrix. This assumes that the predisaster secular and spatial structure of any economy is a reflection, at least in part, of the various uncertainties associated with regular production, transportation, financing, daily survival, and so on. These may result in formal expenditures — as with insurance or stocks, or informal effort — such as maintaining social networks. Each measures the opportunity cost against other income. With a major disturbance, the proportion of failed transactions is increased beyond the capability of these afforded precautions to cushion the impacts, resulting in a “disaster” or even a “catastrophe”.

Keywords: Social Accounting Matrix; Regular Production; Social Account; National Earthquake Hazard Reduction Program; Column Entry (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/978-3-540-24787-6_6

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