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Natural disasters can have a damaging effect on humansociety. To understand the magnitude of risk of a naturaldisaster at the macro scale, basic socioeconomic parameterssuch as population or gross domestic product (GDP) areoften used as proxies to evaluate value of specific assetclasses (e.g., urban assets, agricultural land, etc.). However,such information is not always available and it becomes achallenge to perform cost-benefit analysis of tailored strategiesto protect an asset class from natural disaster risk.Recent studies showed the prospects of relating GDP andpopulation to produced capital representing urban assets.However, the methods used in earlier studies are unclear andresulted in different outcomes that need further clarificationand generalization. This study aims to demonstrate thepotential of developing a more generalized method to characterizethe relation between produced capital and basicsocioeconomic parameters at the global scale. We includepurchasing power parity (PPP) into the country GDP andproduced capital data, respectively. We develop a more generalizedmethod that incorporates the uncertainty range toquantify the produced capital. This is an improvement fromprevious studies. The new approach might be useful formacro scale risk assessment within the context of climatechange

Generalized method to estimate value of urban assets for natural disaster risk assessment at the macro scale