@article{ref1,
title="Tornado damage mitigation: benefit-cost analysis of enhanced building codes in Oklahoma",
journal="Weather, climate, and society",
year="2015",
author="Simmons, Kevin M. and Kovacs, Paul and Kopp, Gregory A.",
volume="7",
number="2",
pages="169-178",
abstract="In April 2014, the city of Moore, Oklahoma, adopted enhanced building codes designed for wind-resistant construction. This action came after Moore suffered three violent tornadoes in 14 yr. Insured loss data and a rigorous approach to estimating how much future damage can be mitigated is used to conduct a benefit-cost analysis of the Moore standards applied to the entire state of Oklahoma. The results show that the new codes easily pass the benefit-cost test for the state of Oklahoma by a factor of 3 to 1. Additionally, a sensitivity analysis is conducted on each of the five input variables to identify the threshold where each variable causes the benefit-cost test to fail. Variables include the estimate of future losses, percent of damage that can be reduced, added cost, residential share of overall losses, and the discount rate.<p />",
language="en",
issn="1948-8327",
doi="10.1175/WCAS-D-14-00032.1",
url="http://dx.doi.org/10.1175/WCAS-D-14-00032.1"
}