There has been a general shortfall of peer-reviewed literature identifying methods to estimate the costs and benefits of strategies employed by electric utilities to improve grid resilience. This paper introduces{\textemdash}for the first time{\textemdash}a comprehensive analysis framework to estimate the societal costs and benefits of implementing one strategy to improve power system reliability: undergrounding power transmission and distribution lines. It is shown that undergrounding transmission and distribution lines can be a cost-effective strategy to improve reliability, but only if certain criteria are met before the decision to underground is made.\
}, year = {2016}, booktitle = {Energy Economics}, journal = {Energy Economics}, series = {Energy Economics}, volume = {60}, pages = {47-61}, month = {09/2016}, institution = {Elsevier}, publisher = {Elsevier}, doi = {10.1016/j.eneco.2016.09.011}, note = {The attached report is a pre-print version of an article accepted for publication by Energy Economics. To view the Energy Economics article, click here.
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