Science
In this talk, a framework for modeling the effects of disasters on households' well-being will be presented. The framework extends traditional seismic risk analysis to evaluate changes in the output of economic sectors and the effect of losses on the consumption of individual households. The model considers post-disaster changes in utility of consumption (i.e., well-being losses) as a metric to better capture the impact of disasters on individuals, allowing for a more fair comparison between different socio-economic groups. A case study of the San Francisco Bay Area following a hypothetical magnitude 7.2 earthquake on the Hayward fault will be presented. In addition, an adapted version of the framework that evaluates the impacts of COVID-19 measures on the Bay Area households will be shown.