MERIT - Measuring the Economics of Resilient Infrastructure Tool
Visit their new Website - www.merit.org.nz/merit
Economics of Resilient Infrastructure (EoRI)
What will MERIT include?
- A behavioural module linking shocks and business behaviour through time.
- A spatial module enabling city-wide impacts to be identified at a high level of resolution (the Netherlands-based Research Institute for Knowledge Systems (RIKS) will provide this capability).
- An economic module bringing together supply and demand in relevant markets (including labour and capital markets), pricing impacts and other dynamics.
Scenarios will be developed to “shock” the model. These will be determined in consultation with model users. Possible examples include outage of specific infrastructure services (e.g. specified part of the water reticulation network or port), or more general infrastructure loss following natural hazard event (e.g. volcanic eruption, Alpine Fault movement).
Business behaviours that influence economic outcomes may be identified and can be incorporated. The benefits of pre-event mitigation and post-event adaptation will also be testable.
The following diagram explains the relationships between the various components:
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Updated 15 May 2018