Accounting for uncertainty in cost benefit analysis: A generalised framework for natural hazard adaptation in the coastal zone
|Title||Accounting for uncertainty in cost benefit analysis: A generalised framework for natural hazard adaptation in the coastal zone|
|Publication Type||Conference Paper|
|Year of Publication||2015|
|Conference Name||36th Hydrology and Water Resources Symposium: The art and science of water|
The social, economic and environmental vulnerability of communities to natural hazards such as coastal inundation, riverine flooding and water security is increasing through the cumulative effect of different climatic and non-climatic factors. Formulating a basis upon which to make adaptation decisions (whether project or policy related) to strengthen community resilience to natural hazards is challenging, with uncertainty present in many data inputs. Sources of uncertainty include site-specific climatic projections, current economic and social cost-benefit valuation methodologies along with varying community preferences.