Monday, January 23, 2023 3 pm to 4 pm
About this Event
915 Partners Way, Raleigh, NC
Rachel Davidson, a professor in the Department of Civil and Environmental Engineering at the University of Delaware, will deliver the Shaw Lecture. Davidson will discuss "Systems Modeling in Search of Win-Win Solutions to Coastal Resilience." Davidson will describe a computational framework that can be used to identify disaster risk management policy solutions based on behavior of the system as a whole, including interactions among multiple types of stakeholders (homeowners, insurers, government, reinsurers) and strategies (retrofit, insurance, property acquisition). It provides specific recommendations for government policymaking and describes the outcomes different stakeholders would experience under various policies, allowing identification of policies that are likely to have broad support. The framework includes multiple interacting mathematical models —stochastic programming optimization models to represent government and insurer decisions, a Cournot-Nash model of insurer competition, empirical discrete choice models of individual homeowner decisions, computable general equilibrium model of the regional economy and a regional loss estimation. A full-scale application for hurricane risk in eastern North Carolina suggests it is possible to identify systemwide win-win solutions that are better both for each stakeholder type individually and for society as a whole.