The objective of this EArly-concept Grant for Exploratory Research (EAGER) project is to support research on developing new economic theory and estimation models for studying dynamic economic resilience—how these firms can bounce back rapidly and cost-effectively. The research intends to facilitate optimal investment decision-making for businesses, government, insurance companies, and other key decision makers in the aftermath of disasters. Small and mid-sized enterprises (SMEs) are the lifeblood of our economy. Unfortunately, many SMEs hit by catastrophic disasters go out of business or face a long and costly recovery. In many regions of our country, these SMEs are also hit more than once, and some are still recovering from a prior disaster. This research aims to support the cost-effective decisions regarding the timing and level of investment in repair and reconstruction activities, ensuring that businesses and insurance companies do not spend unnecessarily. When hit by a disaster, businesses scramble to repair damaged facilities, work around disrupted utility services, manage a disrupted workforce, or respond to other key disruptions in their operations. Knowing which investments in repair and reconstruction are going to be most effective and cost-effective, and knowing when to invest, are critical to achieving successful recovery. This project seeks to develop microeconomic production theory and resilience metrics to improve our collective understanding of how decisio