TY - CHAP
T1 - An Economic Approach for Domino Effect Management
AU - Chen, Chao
AU - Reniers, Genserik
AU - Yang, Ming
N1 - 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.
PY - 2022
Y1 - 2022
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=85118442226&partnerID=8YFLogxK
U2 - 10.1007/978-3-030-88911-1_6
DO - 10.1007/978-3-030-88911-1_6
M3 - Chapter
AN - SCOPUS:85118442226
T3 - Springer Series in Reliability Engineering
SP - 133
EP - 154
BT - Integrating Safety and Security Management to Protect Chemical Industrial Areas from Domino Effects
PB - Springer
ER -