Simulating the Economic Impacts of a Hypothetical Bio-Terrorist Attack: A Sports Stadium Case

Lee Bumsoo, Gordon Peter, Moore James E and Richardson Harry W.
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Lee Bumsoo: University of Illinois at Urbana-Champaign
Gordon Peter: University of Southern California
Moore James E: University of Southern California
Richardson Harry W.: University of Southern California

Journal of Homeland Security and Emergency Management, 2008, vol. 5, issue 1, 22

Abstract: The purpose of this paper is two-fold. First, we suggest an analytical framework to study the full economic impacts of hypothetical bio-terrorist attacks on various targets. We particularly emphasize the importance of estimating economic impacts that occur through systems and behavior linkages beyond direct losses. Second, we provide a case study that analyzes the economic impacts of an attack on a major league sports stadium. The estimated loss from the stadium attack ranges from $62 billion to $73 billion. The largest loss comes from the loss of lives, followed by the reduced demand for sports stadium visits. We demonstrate that available off-the-shelf impact models (in this case IMPLAN) can be utilized, via the development of detailed but plausible scenarios grounded in available data and literature.

Keywords: economic impacts; bio-terrorism; sports stadium attack; input-output analysis (search for similar items in EconPapers)
Date: 2008
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DOI: 10.2202/1547-7355.1437

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