Articles | Volume 12, issue 5
Nat. Hazards Earth Syst. Sci., 12, 1633–1640, 2012
https://doi.org/10.5194/nhess-12-1633-2012
Nat. Hazards Earth Syst. Sci., 12, 1633–1640, 2012
https://doi.org/10.5194/nhess-12-1633-2012

Review article 23 May 2012

Review article | 23 May 2012

Review Article "Valuating the intangible effects of natural hazards – review and analysis of the costing methods"

V. Markantonis1, V. Meyer1, and R. Schwarze1,2 V. Markantonis et al.
  • 1Helmholtz Centre for Environmental Research – UFZ, Department of Economics, Leipzig, Germany
  • 2European University Viadrina, Frankfurt/Oder, Germany

Abstract. The "intangible" or "non-market" effects are those costs of natural hazards which are not, or at least not easily measurable in monetary terms, as for example, impacts on health, cultural heritage or the environment. The intangible effects are often not included in costs assessments of natural hazards leading to an incomplete and biased cost assessment. However, several methods exist which try to estimate these effects in a non-monetary or monetary form. The objective of the present paper is to review and evaluate methods for estimating the intangible effects of natural hazards, specifically related to health and environmental effects. Existing methods are analyzed and compared using various criteria, research gaps are identified, application recommendations are provided, and valuation issues that should be addressed by the scientific community are highlighted.

Altmetrics