Optimal management of the flood risks of floodplain development

Koichiro Mori, Charles Perrings

Research output: Contribution to journalArticlepeer-review

14 Scopus citations

Abstract

This paper presents a model of the problem on floodplain development, exploring the conditions that are both necessary and sufficient for development to be optimal. The model is calibrated for a particular catchment, the Ouse catchment in the United Kingdom, and is used both to estimate the expected impact of floodplain development and to explore the impact of alternative policy instruments. We find that the use of price-based instruments that signal the expected flood damage cost of floodplain development has the potential to lead to outcomes close to the social optimum. The finding is robust to two types of uncertainty: model error about the relation between precipitation and flood-risk and measurement error about the benefits of developed floodplains.

Original languageEnglish (US)
Pages (from-to)109-121
Number of pages13
JournalScience of the Total Environment
Volume431
DOIs
StatePublished - Aug 1 2012

Keywords

  • Flood externality
  • Flood risk
  • Floodplain development

ASJC Scopus subject areas

  • Environmental Engineering
  • Environmental Chemistry
  • Waste Management and Disposal
  • Pollution

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