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- W2045226490 abstract "Abstract Hurricane warnings cause people and businesses in the predicted path of the cyclone to take actions that will reduce damage and/or loss of life. Sometimes these actions and their attendant costs are avoidable, since a larger section of the coast is alerted than that which the hurricane actually affects. Using general population densities and the average damage costs due to storms, the authors present a combined game- and decision-theory approach to estimating the economic benefits of more accurate prediction. The potential savings to this economic sector for a substantial improvement in 24-hr forecasting accuracies (that is, the reduction of the average forecast error to one-half its present value) is shown to be at least $15.2 million in the first year. A general equation is presented for various combinations of improvement levels, population densities, percentage of those who protect, and number of warnings per season." @default.
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- W2045226490 date "1973-02-01" @default.
- W2045226490 modified "2023-09-26" @default.
- W2045226490 title "Application of Economic Analyses to Hurricane Warnings to Residential and Retail Activities In the U.S. Gulf of Mexico Coastal Region" @default.
- W2045226490 doi "https://doi.org/10.1175/1520-0493(1973)101<0126:aoeath>2.3.co;2" @default.
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