An Economic Approach for Domino Effect Management

Research output: Chapter in Book/Conference proceedings/Edited volumeChapterScientificpeer-review

Abstract

In light of possible severe consequences of unintentional and intentional domino effects, an integrated domino effect management framework was introduced in Chap. 5 to prevent and mitigate domino effect risk. In this chapter, an economic approach based on safety economics is developed to obtain the optimal protection strategy. First, we introduce the concepts and approaches used in safety economics (Chen et al. in Saf Sci 14, 2021). Then, a domino effect management approach is developed based on cost–benefit analysis and game theory (Chen et al. in Process Saf Environ Prot 134:392–405, 2020). In this approach, the disproportion factor (DF) is employed in the cost–benefit analysis to determine whether a protection strategy is recommended. Besides, an optimization algorithm called “PROTOPT” is developed to achieve the optimal protection strategy.
Original languageEnglish
Title of host publicationIntegrating Safety and Security Management to Protect Chemical Industrial Areas from Domino Effects
PublisherSpringer
Pages133-154
Number of pages22
ISBN (Electronic)978-3-030-88911-1
DOIs
Publication statusPublished - 2022

Publication series

NameSpringer Series in Reliability Engineering
ISSN (Print)1614-7839
ISSN (Electronic)2196-999X

Bibliographical note

Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.

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