The cost-effectiveness of economic resilience

Society is increasingly focused on resilience to catastrophic events. Firms generally observe two forms of economic disruption, property damage and business interruption (BI). In contrast pre-event mitigation intended primarily avoid damage, firms can use a variety tactics once the disaster strikes reduce BI losses by improving stability continuity operations. This paper makes theoretical contribution incorporating into longstanding production theory identifying key components for evaluating cost effectiveness resilience. It also important empirical contributions designing, administering, analyzing surveys affected most devastating disasters in US history. first econometrically analyze these relationships, cost-effectiveness full range explicit tactics. Results show that exceeded over 900% and, average, avoided $4.57 every dollar spent Generalizable comparative static estimates are presented manufacturing sector test formalized which identify capable factor productivity significantly enhance