- Author
- Fuller, S. K.
- Title
- Evaluating Fire Protection Investment Decisions for Homeowners.
- Coporate
- National Institute of Standards and Technology, Gaithersburg, MD
- Journal
- Socio-Economic Planning Science, Vol. 25, No. 2, 143-154, 1991
- Keywords
- fire protection | decision making | risks | smoke detectors | sprinkler systems | life safety | insurance | costs | maintenance
- Identifiers
- Analtyical Hierarchy Process (AHP); property protection
- Abstract
- This paper examines the use of the Analytic Hierarchy Process (AHP) for evaluating fire protection systems for homeowners. It explores how to include in the decision-making process information on an individual's risk exposure and risk attitude. The AHP is applied to the choice of purchasing smoke detectors, a sprinkler system, or a combination of the two. Two hypothetical cases are assumed, one in which the homeowner is risk-taking and has lower-than-average risk exposure, and one in which the homeowner is risk-averse and has higher-than-average risk exposure. Probabilities of fire, death, injury, and property loss, subjectively derived from national fire statistics, are used in combinaton with more easily quantifiable benefit and cost criteria such as system price, property tax increase, and insurance savings. The study focuses on the decision making of homeowners, but the results are also of interest to builders of residential homes, fire chiefs, policy makers, and others who make decisions about fire protection investments.