New Findings from Stanford University in the Area of Earth Science Reported (Unification of Seismic Performance Estimation and Real Estate Investment Analysis to Model Post-Earthquake Building Repair Decisions)

Science Letter

By a News Reporter-Staff News Editor at Science Letter -- Current study results on Science - Earth Science have been published. According to news reporting originating in Stanford, California, by NewsRx journalists, research stated, "Post earthquake decisions on whether to repair or to demolish and rebuild a damaged commercial building can be influenced by factors other than repair costs. These factors include the property's ability to generate income and the conditions of the real estate market-factors not currently considered in seismic performance estimation models."

The news reporters obtained a quote from the research from Stanford University, "This paper introduces a framework that unifies performance-based earthquake engineering and real estate investment analysis to model cases in which repair of damaged buildings is feasible, but redevelopment or leaving the building unrepaired and vacant might offer greater economic value. A three-stage approach for quantifying the likelihood of repair, redevelopment, or leaving the property vacant is proposed. First, building seismic performance analysis is conducted using FEMA P-58 and Resilience-based Earthquake Design Initiative (REDi) methodologies; then, given repair and redevelopment costs and times, the net present value decision rule is used to evaluate alternative outcomes; and finally, the results from the two stages are integrated to quantify the probability of different decisions."

According to the news reporters, the research concluded: "An illustrative case study of four reinforced concrete buildings highlights the insights provided by the proposed framework."

For more information on this research see: Unification of Seismic Performance Estimation and Real Estate Investment Analysis to Model Post-Earthquake Building Repair Decisions. Earthquake Spectra, 2018;34(4):1787-1808. Earthquake Spectra can be contacted at: Earthquake Engineering Research Inst, 499 14TH St, Ste 320, Oakland, CA 94612-1934, USA (see also Science - Earth Science).

Our news correspondents report that additional information may be obtained by contacting M. Markhvida, Stanford University, Dept. of Civil & Environm Engn, Stanford, CA 94305, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1193/030118EQS048M. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.