contributor author | Craig Taylor | |
contributor author | Glenn Rix | |
contributor author | Fang Liu | |
date accessioned | 2017-05-08T21:21:39Z | |
date available | 2017-05-08T21:21:39Z | |
date copyright | December 2009 | |
date issued | 2009 | |
identifier other | %28asce%291076-0342%282009%2915%3A4%28406%29.pdf | |
identifier uri | http://yetl.yabesh.ir/yetl/handle/yetl/48410 | |
description abstract | One of the main topics in the Georgia Tech/NEES Grand Challenge project “Seismic Risk Mitigation for Port Systems” is the evaluation of seismic risk management approaches for ports. One subtopic of this main topic is the re-evaluation of pertinent financial risk and decision procedures for assessing seismic risk-reduction measures. In light of many criticisms of benefit-cost and least mean total cost methods, previous port seismic risk and decision procedures have benefited from the application of the mean-variance criterion. However, serious objections have been posed to the use of the mean-variance criterion so that exploration of stochastic dominance methods is encouraged. This paper outlines these methods in terms of simplifying nonparametric and upper-order statistics. Focusing on the tails of total cost distributions, this paper shows the value of these methods, but also the value of using almost stochastic dominance when strict stochastic methods fail. | |
publisher | American Society of Civil Engineers | |
title | Exploring Financial Decision-Making Approaches for Use in Earthquake Risk Decision Processes for Ports | |
type | Journal Paper | |
journal volume | 15 | |
journal issue | 4 | |
journal title | Journal of Infrastructure Systems | |
identifier doi | 10.1061/(ASCE)1076-0342(2009)15:4(406) | |
tree | Journal of Infrastructure Systems:;2009:;Volume ( 015 ):;issue: 004 | |
contenttype | Fulltext | |