Human Capital Approach in the Economic Assessment of Interventions for the Reduction of Seismic Vulnerability in Historic Centres

Abstract

The economic evaluation of the interventions aimed at reducing the seismic risk in the historic centres starting from a minimum risk scenario established by law, namely that provided by the Emergency Limit Condition (ELC), and aimed at supporting efficient and effective choices by the public decision-maker pursuing objectives of equity and social well-being, displaying a multidimensional nature. As a result, the evaluation process should integrate more approaches to quantify the different forms of capital involved. The seismic event can pose risks to an individual’s survival or reduce the quality of life. The assessment of the effects of the potential seismic vulnerability reduction plan on the population can be determined on the basis of the value of a statistical life (VSL). Among the possible approaches for its determination, that of the human capital (HC) was chosen for use. A critical review of the HC approach literature has been instrumental in defining an empirical approach that integrates the income-based approach proposed by Jorgenson–Fraumeni for market and non-market assets as well as the approach of Dagum. On the basis of this, the value of the HC for the historic centre of Brisighella was determined. The empirical approach also supported the definition of a model for the quantification of the benefits produced on the population by the plan of interventions to reduce the seismic vulnerability of the historic centre.

Renewables-Integrated Energy Systems Can Provide Electricity at Lower Cost with Less Environmental and Social Damage

“…For example, if the average WTP for a reduction in mortality due to air pollution in India is INR 10 and there are 100,000 individuals involved, then VSL would be INR 1 million. Besides the WTP approach, VSL can be estimated through the human capital approach, benefits transfer method, and so on. There is a wide range of VSL calculated in the literature, which is as low as INR 4.25 million to the highest INR 56.1 million between the year 1997 and the year 2019.…”

“…For example, if the average WTP for a reduction in mortality due to air pollution in India is INR 10 and there are 100,000 individuals involved, then VSL would be INR 1 million. Besides the WTP approach, VSL can be estimated through the human capital approach, 65 benefits transfer method, 66 Multiobjective Optimization Formulation. In this study, RIES shown in Figure 1 is optimized for three objectives simultaneously.…”

Value and Quality in the Dialectics between Human and Urban Capital of the City Networks on the Land District Scale

“…With the aim of investigating the relationships between the "city effect" and the territorial context-both referring to the socio-economic category of capital [136]-a descriptive model organized on two different levels was created, aggregating the elementary indices in two ways:…”

The cost-effectiveness of B-type natriuretic peptide-guided care in compared to standard clinical assessment in outpatients with heart failure in Tehran, Iran

“…The data collection form was used to collect data, consisting of two parts: the first part collected demographic data of the patients and the second section collected information about the costs of physician visits, heart medications, BNP test, diagnostic and laboratory services, hospitalization and rehospitalization, nursing, special equipment, private service, accommodation and traveling. The costs of productivity loss due to heart failure were estimated by employing the human capital approach [ 30 ].…”