Improved Seismic Monitoringâ€"Improved Decision-Making, describes and assesses the varied economic benefits potentially derived from modernizing and expanding seismic monitoring activities in the United States. These benefits include more effective loss avoidance regulations and strategies, improved understanding of earthquake processes, better engineering design, more effective hazard mitigation strategies, and improved emergency response and recovery. The economic principles that must be applied to determine potential benefits are reviewed and the report concludes that although there is insufficient information available at present to fully quantify all the potential benefits, the annual dollar costs for improved seismic monitoring are in the tens of millions and the potential annual dollar benefits are in the hundreds of millions.

Quantifying the social and economic value that geospatial information contributes to modern society is a complex task. To construct reliable and consistent valuation measures requires an understanding of the sequence of processes that starts with data acquisition, and leads to decision-makers’ choices that impact society. GEOValue explores each step in this complex value chain from the viewpoint of domain experts spanning disciplines that range from the technical side of data acquisition and management to the social sciences that provide the framework to assess the benefit to society. The book is intended to provide foundational understanding of the techniques and complexities of each step in the process. As such it is intended to be assessable to a reader without prior training in data acquisition systems, information systems, or valuation methods. In addition, a number of case studies are provided that demonstrate the use of geospatial information as a critical input for evaluation of policy pertaining to a wide range of application areas, such as agricultural and environmental policy, natural catastrophes, e-government and transportation systems.