Calculating catastrophe

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Author : Gordon Woo
Genre : Technology & Engineering

Summary : Calculating Catastrophe has been written to explain, to a general readership, the underlying philosophical ideas and scientific principles that govern catastrophic events, both natural and man-made. Knowledge of the broad range of catastrophes deepens understanding of individual modes of disaster. This book will be of interest to anyone aspiring to understand catastrophes better, but will be of particular value to those engaged in public and corporate policy, and the financial markets.The author, Dr. Gordon Woo, was trained in mathematical physics at Cambridge, MIT and Harvard, and has made his career as a calculator of catastrophes. His diverse experience includes consulting for IAEA on the seismic safety of nuclear plants and for BP on offshore oil well drilling. As a catastrophist at Risk Management Solutions, he has advanced the insurance modelling of catastrophes, including designing a model for terrorism risk.

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Author : Kirsten Mitchell-Wallace
Genre : Science

Summary : This book covers both the practical and theoretical aspects of catastrophe modelling for insurance industry practitioners and public policymakers. Written by authors with both academic and industry experience it also functions as an excellent graduate-level text and overview of the field. Ours is a time of unprecedented levels of risk from both natural and anthropogenic sources. Fortunately, it is also an era of relatively inexpensive technologies for use in assessing those risks. The demand from both commercial and public interests—including (re)insurers, NGOs, global disaster management agencies, and local authorities—for sophisticated catastrophe risk assessment tools has never been greater, and contemporary catastrophe modelling satisfies that demand. Combining the latest research with detailed coverage of state-of-the-art catastrophe modelling techniques and technologies, this book delivers the knowledge needed to use, interpret, and build catastrophe models, and provides greater insight into catastrophe modelling’s enormous potential and possible limitations. The first book containing the detailed, practical knowledge needed to support practitioners as effective catastrophe risk modellers and managers Includes hazard, vulnerability and financial material to provide the only independent, comprehensive overview of the subject, accessible to students and practitioners alike Demonstrates the relevance of catastrophe models within a practical, decision-making framework and illustrates their many applications Includes contributions from many of the top names in the field, globally, from industry, academia, and government Natural Catastrophe Risk Management and Modelling: A Practitioner’s Guide is an important working resource for catastrophe modelling analysts and developers, actuaries, underwriters, and those working in compliance or regulatory functions related to catastrophe risk. It is also valuable for scientists and engineers seeking to gain greater insight into catastrophe risk management and its applications.

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Author : Stefan Hochrainer
Genre : Business & Economics

Summary : Stefan Hochrainer develops a catastrophe risk management model. It illustrates which trade-offs and choices a country must make in managing economic risks due to natural disasters. Budgetary resources are allocated to pre-disaster risk management strategies to reduce the probability of financing gaps. The framework and model approach allows cross country comparisons as well as the assessment of financial vulnerability, macroeconomic risk, and risk management strategies. Three case studies demonstrate its flexibility and coherent approach.

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Author : Courtney Brown
Genre : Social Science

Summary : What is chaos? How can it be measured? How are the models estimated? What is catastrophe? How is it modelled? How are the models estimated? These questions are the focus of this volume. Beginning with an explanation of the differences between deterministic and probabilistic models, Brown then introduces the reader to chaotic dynamics. Other topics covered are finding settings in which chaos can be measured, estimating chaos using nonlinear least squares and specifying catastrophe models. Finally a nonlinear system of equations that models catastrophe using real survey data is estimated.

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Author : Florin Diacu
Genre : Business & Economics

Summary : The history and science behind efforts to predict major disasters, from tsunamis to stock market crashes Can we predict cataclysmic disasters such as earthquakes, volcanic eruptions, or stock market crashes? The Indian Ocean tsunami of 2004 claimed more than 200,000 lives. Hurricane Katrina killed over 1,800 people and devastated the city of New Orleans. The recent global financial crisis has cost corporations and ordinary people around the world billions of dollars. Megadisasters is a book that asks why catastrophes such as these catch us by surprise, and reveals the history and groundbreaking science behind efforts to forecast major disasters and minimize their destruction. Each chapter of this exciting and eye-opening book explores a particular type of cataclysmic event and the research surrounding it, including earthquakes, tsunamis, volcanic eruptions, hurricanes, rapid climate change, collisions with asteroids or comets, pandemics, and financial crashes. Florin Diacu tells the harrowing true stories of people impacted by these terrible events, and of the scientists racing against time to predict when the next big disaster will strike. He describes the mathematical models that are so critical to understanding the laws of nature and foretelling potentially lethal phenomena, the history of modeling and its prospects for success in the future, and the enormous challenges to scientific prediction posed by the chaos phenomenon, which is the high instability that underlies many processes around us. Yielding new insights into the perils that can touch every one of us, Megadisasters shows how the science of predicting disasters holds the promise of a safer and brighter tomorrow.

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Author : Claudia Aradau
Genre : Political Science

Summary : This book argues that catastrophe is a particular way of governing future events – such as terrorism, climate change or pandemics – which we cannot predict but which may strike suddenly, without warning, and cause irreversible damage. At a time where catastrophe increasingly functions as a signifier of our future, imaginaries of pending doom have fostered new modes of anticipatory knowledge and redeployed existing ones. Although it shares many similarities with crises, disasters, risks and other disruptive incidents, this book claims that catastrophes also bring out the very limits of knowledge and management. The politics of catastrophe is turned towards an unknown future, which must be imagined and inhabited in order to be made palpable, knowable and actionable. Politics of Catastrophe critically assesses the effects of these new practices of knowing and governing catastrophes to come and challenges the reader to think about the possibility of an alternative politics of catastrophe. This book will be of interest to students of critical security studies, risk theory, political theory and International Relations in general.

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Author : Peter Timothy Saunders
Genre : Mathematics

Summary : An introduction to catastrophe theory, a mathematical theory which deals with those changes which occur abruptly rather than smoothly. Includes many applications to illustrate the different ways in which catastrophe can be used in life, physical and social sciences.