 Cost‐Benefit Analysis of Passive Fire Protections in Road LPG TransportationNicola Paltrinieri, Sarah Bonvicini, Gigliola Spadoni and Valerio Cozzani Risk Analysis, 2012, vol. 32, issue 2, 200-219 Abstract: The cost‐benefit evaluation of passive fire protection adoption in the road transport of liquefied petroleum gas (LPG) was investigated. In a previous study, mathematical simulations of real scale fire scenarios proved the effectiveness of passive fire protections in preventing the “fired” boiling liquid expanding vapor explosion (BLEVE), thus providing a significant risk reduction. In the present study the economical aspects of the adoption of fire protections are analyzed and an approach to cost‐benefit analysis (CBA) is proposed. The CBA model is based on the comparison of the risk reduction due to fire protections (expressed in monetary terms by the value of a statistical life) and the cost of the application of fire protections to a fleet of tankers. Different types of fire protections were considered, as well as the possibility to apply protections to the entire fleet or only to a part of it. The application of the proposed model to a real‐life case study is presented and discussed. Results demonstrate that the adoption of passive fire protections on road tankers, though not compulsory in Europe, can be economically feasible, thus representing a concrete measure to achieve control of the “major hazard accidents” cited by the European legislation. Date: 2012 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:32:y:2012:i:2:p:200-219 Access Statistics for this article More articles in Risk Analysis from John Wiley & Sons |
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