Integrating intangible values in economic analyses of flood mitigation: a case study of the Brown Hill and Keswick creeks catchment in Adelaide

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Abstract

This study undertakes an economic analysis of flood mitigation options for a high flood-risk catchment in Adelaide. To date, economic analyses have focused primarily on estimating the tangible (market) costs and benefits of mitigation strategies and have largely ignored the intangible (non-market) costs and benefits. This analysis improves upon previous studies by conducting a benefit-cost analysis that incorporates the intangible costs and benefits of mitigation. The benefit transfer method was used to include intangible values in the analysis. It was found that, for this particular case study, the inclusion of intangible values does not change the attractiveness of the mitigation options evaluated and the benefit-cost ratios remain below one.

Original languageEnglish
Pages (from-to)30-36
Number of pages7
JournalAustralian Journal of Emergency Management
Volume32
Issue number4
Publication statusPublished - Oct 2017

Cite this

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title = "Integrating intangible values in economic analyses of flood mitigation: a case study of the Brown Hill and Keswick creeks catchment in Adelaide",
abstract = "This study undertakes an economic analysis of flood mitigation options for a high flood-risk catchment in Adelaide. To date, economic analyses have focused primarily on estimating the tangible (market) costs and benefits of mitigation strategies and have largely ignored the intangible (non-market) costs and benefits. This analysis improves upon previous studies by conducting a benefit-cost analysis that incorporates the intangible costs and benefits of mitigation. The benefit transfer method was used to include intangible values in the analysis. It was found that, for this particular case study, the inclusion of intangible values does not change the attractiveness of the mitigation options evaluated and the benefit-cost ratios remain below one.",
author = "Veronique Florec and Morteza Chalak and Atakelty Hailu",
year = "2017",
month = "10",
language = "English",
volume = "32",
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journal = "Australian Journal of Emergency Management",
issn = "1324-1540",
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T2 - a case study of the Brown Hill and Keswick creeks catchment in Adelaide

AU - Florec, Veronique

AU - Chalak, Morteza

AU - Hailu, Atakelty

PY - 2017/10

Y1 - 2017/10

N2 - This study undertakes an economic analysis of flood mitigation options for a high flood-risk catchment in Adelaide. To date, economic analyses have focused primarily on estimating the tangible (market) costs and benefits of mitigation strategies and have largely ignored the intangible (non-market) costs and benefits. This analysis improves upon previous studies by conducting a benefit-cost analysis that incorporates the intangible costs and benefits of mitigation. The benefit transfer method was used to include intangible values in the analysis. It was found that, for this particular case study, the inclusion of intangible values does not change the attractiveness of the mitigation options evaluated and the benefit-cost ratios remain below one.

AB - This study undertakes an economic analysis of flood mitigation options for a high flood-risk catchment in Adelaide. To date, economic analyses have focused primarily on estimating the tangible (market) costs and benefits of mitigation strategies and have largely ignored the intangible (non-market) costs and benefits. This analysis improves upon previous studies by conducting a benefit-cost analysis that incorporates the intangible costs and benefits of mitigation. The benefit transfer method was used to include intangible values in the analysis. It was found that, for this particular case study, the inclusion of intangible values does not change the attractiveness of the mitigation options evaluated and the benefit-cost ratios remain below one.

M3 - Article

VL - 32

SP - 30

EP - 36

JO - Australian Journal of Emergency Management

JF - Australian Journal of Emergency Management

SN - 1324-1540

IS - 4

ER -