Disaster Economics

This podcast explores the complex issue of resource allocation in disaster management. While saving lives is paramount, economic realities dictate prioritising interventions with the highest benefit-to-cost ratio. This approach necessitates measuring the cost-effectiveness and cost-utility of different disaster risk reduction strategies, balancing the value of human life with the limited resources available. It emphasizes the need to consider the opportunity cost of choosing one intervention over another, acknowledging that not all interventions can be implemented due to budget constraints and the difficult ethical decision-making that results.