Spatial Dependencies in Wind-related Housing Damage

Economics

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Spatial Dependencies in Wind-related Housing Damage. / De Silva, Dakshina G.; Kruse, Jamie B.; Wang, Yongsheng.
In: Natural Hazards, Vol. 47, No. 3, 12.2008, p. 317-330.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

De Silva, DG, Kruse, JB & Wang, Y 2008, 'Spatial Dependencies in Wind-related Housing Damage', Natural Hazards, vol. 47, no. 3, pp. 317-330. https://doi.org/10.1007/s11069-008-9221-y

APA

De Silva, D. G., Kruse, J. B., & Wang, Y. (2008). Spatial Dependencies in Wind-related Housing Damage. Natural Hazards, 47(3), 317-330. https://doi.org/10.1007/s11069-008-9221-y

Vancouver

De Silva DG, Kruse JB, Wang Y. Spatial Dependencies in Wind-related Housing Damage. Natural Hazards. 2008 Dec;47(3):317-330. doi: 10.1007/s11069-008-9221-y

Author

De Silva, Dakshina G. ; Kruse, Jamie B. ; Wang, Yongsheng. / Spatial Dependencies in Wind-related Housing Damage. In: Natural Hazards. 2008 ; Vol. 47, No. 3. pp. 317-330.

Bibtex

@article{af984634c4e74b94b9a46333ecf899eb,

title = "Spatial Dependencies in Wind-related Housing Damage",

abstract = "This article examines the spatial dependence among housing losses due to tornadoes using data from the May 1999 Oklahoma City tornado. In order to examine the existence of spatial dependence and its impacts on the damage analysis, we compare an estimation based on a traditional ordinary least square model with the general spatial model. The results show that housing damage in this disaster area is highly correlated. Monetary losses not only depend on the tornado that struck residences, but are related to the damage magnitudes of neighboring houses. Average losses as well as the loss ratio increase with the Fujita Scale damage rating. We conclude that the general spatial model provides unbiased estimates compared to the ordinary least square model. In order to construct appropriate home insurance policies for tornado disasters or to improve the damage resistance capabilities of houses, it is necessary for insurance underwriters and builders to consider spatial correlation of tornado damage.",

keywords = "Housing damage , Spatial dependence , Tornado , Fujita Scale",

author = "{De Silva}, {Dakshina G.} and Kruse, {Jamie B.} and Yongsheng Wang",

year = "2008",

month = dec,

doi = "10.1007/s11069-008-9221-y",

language = "English",

volume = "47",

pages = "317--330",

journal = "Natural Hazards",

issn = "0921-030X",

publisher = "Springer Netherlands",

number = "3",

}

RIS

TY - JOUR

T1 - Spatial Dependencies in Wind-related Housing Damage

AU - De Silva, Dakshina G.

AU - Kruse, Jamie B.

AU - Wang, Yongsheng

PY - 2008/12

Y1 - 2008/12

N2 - This article examines the spatial dependence among housing losses due to tornadoes using data from the May 1999 Oklahoma City tornado. In order to examine the existence of spatial dependence and its impacts on the damage analysis, we compare an estimation based on a traditional ordinary least square model with the general spatial model. The results show that housing damage in this disaster area is highly correlated. Monetary losses not only depend on the tornado that struck residences, but are related to the damage magnitudes of neighboring houses. Average losses as well as the loss ratio increase with the Fujita Scale damage rating. We conclude that the general spatial model provides unbiased estimates compared to the ordinary least square model. In order to construct appropriate home insurance policies for tornado disasters or to improve the damage resistance capabilities of houses, it is necessary for insurance underwriters and builders to consider spatial correlation of tornado damage.

AB - This article examines the spatial dependence among housing losses due to tornadoes using data from the May 1999 Oklahoma City tornado. In order to examine the existence of spatial dependence and its impacts on the damage analysis, we compare an estimation based on a traditional ordinary least square model with the general spatial model. The results show that housing damage in this disaster area is highly correlated. Monetary losses not only depend on the tornado that struck residences, but are related to the damage magnitudes of neighboring houses. Average losses as well as the loss ratio increase with the Fujita Scale damage rating. We conclude that the general spatial model provides unbiased estimates compared to the ordinary least square model. In order to construct appropriate home insurance policies for tornado disasters or to improve the damage resistance capabilities of houses, it is necessary for insurance underwriters and builders to consider spatial correlation of tornado damage.

KW - Housing damage

KW - Spatial dependence

KW - Tornado

KW - Fujita Scale

U2 - 10.1007/s11069-008-9221-y

DO - 10.1007/s11069-008-9221-y

M3 - Journal article

VL - 47

SP - 317

EP - 330

JO - Natural Hazards

JF - Natural Hazards

SN - 0921-030X

IS - 3

ER -

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