Published works

To make natural hazard mitigation efforts efficient and equitable, it is important to understand the full range of costs and benefits and how these costs and benefits are distributed among different segments of the community. However, economic assessments of flood mitigation benefits generally tend to be incomplete and focused on tangible and direct benefits only. Indirect and intangible costs are rarely included in this type of assessments. In reality,
intangible values can be large and, in some cases, they can be the most dominant component. The purpose of the Economics of Natural Hazards project is to address this shortcoming by, first, developing a Value Tool that help decision makers estimate intangible values and, second, by undertaking integrated economic modelling of mitigation options in ways that allow for the integration of intangible values. This annual report provides details on the Value
Tool developed by the project and the results from the first case study investigating flood mitigation options for the Brown Hill Keswick catchment of Adelaide. The report also summarises the projects engagement activities over the year.