Emprical Study on Economic Evaluation of Infrastructure Considering Urban Vulnerability

2015 Fiscal Year Final Research Report

• Project/Area Number: 24730215
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Applied economics
• Research Institution: Tokyo Metropolitan University
• Principal Investigator: ASAHI CHISATO 首都大学東京, 社会(科)学研究科, 准教授 (90457812)
• Project Period (FY): 2012-04-01 – 2016-03-31
• Keywords: 脆弱性 / 費用便益分析 / 社会資本整備 / 不確実性 / プロスペクト理論

Outline of Final Research Achievements

As social and economic activities in Urban area have been suffering from various uncertain events, the integration of the idea of “vulnerability” into the economic evaluation of policy is an issue that needs to be considered.
We investigated the choice under risk or uncertainty for integrating it to vulnerability valuation model. We especially focused on the Prospect Theory(PT) and risk sharing effect of urban size. First, we examined the PT's validity and availability as decision making theory for welfare valuation of infrastructure projects, using data from questionnaires about municipal water cutoff risks as a case study. We found the reference point effect in the combination of loss aversion and probability evaluation was observed in the household choice experiment. Second,
the risk sharing effect of urban size is examined theoretically, we show the conditions to evaluate the regional collective risk using the divergence from the optimal city size.

Free Research Field

経済学