Abstract: Floods and droughts and their associated economic, environmental, and social losses or damages are increasing in severity and frequency. Measures taken to reduce these losses or damages stemming from extreme events typically depend on how effective they are in reducing the consequences of having either too much or too little water and for longer periods of time. To identify trade-offs between the annual estimated loss or damage reduction, i.e., the benefits, however measured, and the average annual cost of various damage reduction measures, one...
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Topics: 
Natural resource economics
Environmental resource management
Risk analysis (engineering)