Print Email Facebook Twitter An Economic Approach for Domino Effect Management Title An Economic Approach for Domino Effect Management Author Chen, C. (TU Delft Safety and Security Science) Reniers, G.L.L.M.E. (TU Delft Safety and Security Science) Yang, M. (TU Delft Safety and Security Science) Date 2022 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. To reference this document use: http://resolver.tudelft.nl/uuid:29ecd54a-f2d8-4f52-9162-f302c0cba6f8 DOI https://doi.org/10.1007/978-3-030-88911-1_6 Publisher Springer Embargo date 2022-04-30 ISBN 978-3-030-88911-1 Source Integrating Safety and Security Management to Protect Chemical Industrial Areas from Domino Effects Series Springer Series in Reliability Engineering, 1614-7839 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. Part of collection Institutional Repository Document type book chapter Rights © 2022 C. Chen, G.L.L.M.E. Reniers, M. Yang Files PDF Chen2022_Chapter_AnEconom ... inoEff.pdf 475.9 KB Close viewer /islandora/object/uuid:29ecd54a-f2d8-4f52-9162-f302c0cba6f8/datastream/OBJ/view