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Societal Performance of Infrastructure Subject to Natural Hazards

Abstract The present paper proposes a methodology for assessing the effect of different design and maintenance policies for infrastructure on societal economic growth. The approach adopted takes basis in the general economic theories and economic models, and provides an interface between economics and civil engineering with which the engineering knowledge can be reflected in the economic models. The proposed methodology can be utilised by societal decision makers to identify the optimal investments into infrastructure for ensuring sustainable societal development. An illustrative example is provided considering sustainable decision making in regard to design and maintenance of infrastructure subject to natural hazards. Thereby the advantage of the proposed methodology is shown; it enables to analyse the economic growth and the associated uncertainties corresponding to different design and maintenance policies for infrastructure.