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Research examining natural disaster costs on social and economic systems is substantial. However, there are few empirical studies that seek to quantify the uncertainty and establish confidence intervals surrounding natural disaster cost estimates (ex post). To better frame the data limitations associated with natural disaster loss estimates, a range of losses can be evaluated by conducting multiple...
This paper focuses on the US Billion-dollar Weather/Climate Disaster report by the National Oceanic and Atmospheric Administration’s National Climatic Data Center. The current methodology for the production of this loss dataset is described, highlighting its strengths and limitations including sources of uncertainty and bias. The Insurance Services Office/Property Claims Service, the US Federal Emergency...
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