Cities and flooding. A guide to integrated urban flood risk management for the 21st Century

The guide serves as a primer for decision and policy makers, technical specialists, central, regional and local government officials, and concerned stakeholders in the community sector, civil society and non-governmental organizations, and the private sector. The Guide embodies the state-of-the art on integrated urban flood risk management. The Guide starts with a summary for policy makers which outlines and describes the key areas which policy makers need to be knowledgeable about to create policy directions and an integrated strategic approach for urban flood risk management.

Climate change and coastal flooding in Metro Boston: impacts and adaptation strategies

Sea level rise (SLR) due to climate change will increase storm surge height along the 825 km long coastline of Metro Boston, USA. Land at risk consists of urban waterfront with piers and armoring, residential areas with and without seawalls and revetments, and undeveloped land with either rock coasts or gently sloping beachfront and low-lying coastal marshes. Risk-based analysis shows that the cumulative 100 year economic impacts on developed areas from increased storm surge flooding depend heavily upon the adaptation response, location, and estimated sea level rise.

Agreeing on Robust Decisions: New Processes for Decision Making Under Deep Uncertainty

Investment decision making is already difficult for any diverse group of actors with different priorities and views. But the presence of deep uncertainties linked to climate change and other future conditions further challenges decision making by questioning the robustness of all purportedly optimal solutions. While decision makers can continue to use the decision metrics they have used in the past (such as net present value), alternative methodologies can improve decision processes, especially those that lead with analysis and end in agreement on decisions.

Adaptation to Flooding in Urban Areas: An Economic Primer

New Orleans and Bangkok are vivid examples of major urban areas recently affected by massive inundations of floodwaters. The pending effects of climate change may exacerbate this problem; yet, local decision makers lack a clear and consistent framework for analyzing the costs and benefits of alternative modes of adaptation. This article offers a primer on the economic analysis of three distinct modes of adaptation, with a view to assist planners in determining the best course of action for their respective cities.

The value of disappearing beaches: A hedonic pricing model with endogenous beach width

Beach nourishment is a policy used to rebuild eroding beaches with sand dredged from other locations. Previous studies indicate that beach width positively affects coastal property values, but these studies ignore the dynamic features of beaches and the feedback that nourishment has on shoreline retreat. We correct for the resulting attenuation and endogeneity bias in a hedonic property value model by instrumenting for beach width using spatially varying coastal geological features.

Give and take: How the funding of adaptation to climate change can improve the donor’s terms-of-trade.

This paper discusses the interplay between international trade, regional adaptation to climate change and financial transfers for funding adaptation. It combines insights from a theoretical model of North-to-South transfers with the findings of a calibrated dynamic multi-region multi-sector computable general equilibrium model that takes into account the impacts of climate change and the adaptation to it. Assessing the effects of adaptation funding indicates that funding of adaptation in developing regions can be Pareto-improving.

Dairy productivity and climatic conditions: econometric evidence from South-eastern United States

Climate change and food security have become critical issues in the agricultural policy agenda. Although global warming is expected to increase both the frequency and severity of heat stress on dairy cattle, there are very few economic studies focusing on this issue. This paper contributes to the literature by integrating the frontier methodology, commonly used in applied production economics, with heat stress indexes used by animal scientists but largely ignored by economists.

Using Expert Judgments to Explore Robust Alternatives for Forest Management under Climate Change.

We develop and apply a judgment-based approach to selecting robust alternatives, which are defined here as reasonably likely to achieve objectives, over a range of uncertainties. The intent is to develop an approach that is more practical in terms of data and analysis requirements than current approaches, informed by the literature and experience with probability elicitation and judgmental forecasting. The context involves decisions about managing forest lands that have been severely affected by mountain pine beetles in British Columbia, a pest infestation that is climate-exacerbated.

Aiding Decision Making to Reduce the Impacts of Climate Change

Utilizing theory and empirical insights from psychology and behavioural economics, this paper examines individuals’ cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We explore various strategies that take into account the simplified decisionmaking processes used by individuals and resulting biases. We make these points by working through two examples: (1) investments in energy efficiency products and new technology and (2) adaptation measures to reduce property damage from future floods and hurricanes.

The Costs of Adaptation to Climate Change for Water Infrastructure in OECD Countries

There is concern that climate change may greatly increase the costs of providing water infrastructure in rich countries, but the estimates available cannot be compared across countries. This paper develops and applies a top-down approach to estimate the costs of adapting to climate change on a consistent basis for different climate scenarios. The analysis separates (a) the costs of maintaining service standards for a baseline projection of demand, and (b) the costs of changes in water use and infrastructure as a consequence of changes in climate patterns.