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Keywords:Decision Analysis, Natural Hazards, Risk Analysis, Deep Uncertainty
AbstractLosses from natural hazards, including geophysical and hydro-climatic hazards, have been increasing worldwide. Thanks to improved monitoring, observations and modelling, it is now becoming possible to assess risks and forecast natural hazards more accurately. The focus of this review article is the process by which scientific evidence about natural hazards is applied to support decision making. Decision analysis typically involves estimating the future probability of extreme events, assessing the potential impacts of those events from a variety of perspectives, and evaluating options to plan for, mitigate or react to events. Application of formal decision analysis methodologies across natural hazard contexts has so far been uneven, but there are many valuable approaches available, and potential to learn across hazard types and timescales of response. We provide a summary and evaluation of existing applications, concluding that more thoughtful and widespread application of decision analysis will help to ensure that new scientific understanding yields the greatest possible benefits in terms of risk reduction.