Economic optimization of flood prevention systems in the Netherlands

After the flood disaster of 1953, the Netherlands adopted a rational approach to flood risk management with the use of protection standards determined by means of cost-benefit analysis. Due to scientific and political developments that have recently taken place, an update of the Dutch protection standards is being undertaken. One of the major...

Economic implications of multi-layer safety projects for flood protection

Recent experience of large-scale water disasters such as Hurricane Katrina in 2005 and the Great Eastern Japan Earthquake and Tsunami in 2011 has reminded mankind that disasters cannot be ruledout. Unprecedented low-probability events can happen even in the most well monitored areas, causing major social-economic disruption. Failing to prepare...