Earthquake loss estimation and benefit-cost analysis of mitigation measures for buildings in Greece: case study of Pylos town

Using observed-damage based vulnerability functions derived in an accompanying paper, we conduct loss estimation scenarios for the town of Pylos in south-western Peloponnese (Greece). Benefit-cost analysis for three different seismic retrofit programmes is then carried-out. These concern the strengthening of pre-1985 reinforced concrete (RC) buildings to the level of seismic performance of modern buildings, and two different retrofit programmes for the old unreinforced load-bearing stone masonry buildings (strengthening with steel tie-rods or a more extensive retrofit where wooden floors are replaced by RC flooring, introduction of RC ring beams and external and internal jacketing with shotcrete of the load-bearing stone walls). We conducted sensitivity analysis for parameters such as the cost of retrofit and the statistical value of human life and concluded that for the stone masonry buildings strengthening with steel tie-rods is cost effective with a time horizon of 10 to 19 years.