Financial and physical infrastructure: integrated network resilience analysis under extreme events

Team
Matteo Pozzi, Bruno Sinopoli, Andreea Minca

Description
The effects of extreme events on society are not only a function of the immediate damage induced on the physical infrastructure system (e.g. commercial and residential structures, transportation, critical manufacturing), but also of the post-event recovery process that a community is able to implement. This recovery process depends on the availability of investments from the financial sector (e.g. by private banks, insurance, and re-insurance companies). Appropriate relationships between these financial and physical infrastructures are therefore necessary to provide the financial pre-conditions for rapid and efficient restoration of the physical system. This project aims at developing a deeper understanding of the relationships coupling the financial and physical infrastructures and their effect on the resilience of these interconnected systems. This improved understanding will ultimately lead to better policies and decision-making support for financial and physical infrastructure managers aimed at improving their preparedness for and responsiveness to extreme events.

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Source of funding
NSF “CRISP Type 1/Collaborative Research: A Computational Approach for Integrated Network Resilience Analysis under Extreme Events for Financial and Physical Infrastructures,”

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Publications

Pozzi, M., Memarzadeh, M., Klima., K. “Hidden-model processes for adaptive management under uncertain climate change,” ASCE’s Journal of Infrastructure Systems 23(4): 04017022. doi: 10.1061/(ASCE)IS.1943-555X.0000376 (2017).

Pozzi, M., Mailings, C., Minca, A.C. “Negative value of information in systems’ maintenance,” Proc. of the 11th International Conference on Structural Safety and Reliability (ICOSSAR2017), Vienna, Austria. 6-10 August 2017.

Pozzi, M., Memarzadeh, M. “A sequential decision making prospective on resilience,” Proc. of the 11th International Conference on Structural Safety and Reliability (ICOSSAR2017), Vienna, Austria. 6-10 August 2017.

Tomaselli, T., Pozzi, M., Sinopoli, B. “Design of Risk-Sharing Mechanism Related to Extreme Events,” Proc. of the 19th Working Conference of the IFIP Working Group 7.5 on Reliability and Optimization of Structural Systems, ETH Zurich, Zentrum, June 26-29, 2018.

Tomaselli, T., Pozzi, M., Sinopoli, B. “Optimal Risk-Sharing Mechanism to Enhance Resilience of Communities,” Proc. of the 13th International Conference on Applications of Statistics and Probability in Civil Engineering (ICASP13), Seoul, South Korea, May 26-30, 2019.