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Published February 2000 | public
Book Section - Chapter

Optimal Strategy for Business Recovery after Earthquakes

Abstract

A methodology for choosing the best recovery strategy is presented for a company that owns multiple income-producing properties damaged in an earthquake. The basic idea is to choose recovery actions that maximize the net asset value of the properties owned by the company. This methodology helps to address the question of whether each property should be repaired or demolished. It allows the optimal expenditure rate and optimal time for repair or demolition to be determined. Furthermore, when the total cost of repairs is subject to a budget constraint, the methodology shows whether each property should be repaired immediately, delayed or never repaired.

Additional Information

This paper is part of a joint Caltech-Stanford project funded by California Universities for Research in Earthquake Engineering under the CUREe-Kajima Joint Research Program with J.L. Beck as team leader and A.S. Kiremidjian heading the effort at Stanford University. This financial support is gratefully acknowledged.

Additional details

Created:
August 19, 2023
Modified:
October 19, 2023