Effective flood plain management requires estimation of the costs and benefits of all contemplated projects. In this study the focus is on estimatig the benefits of such schemes. Starting from the similarity between flood flow and flood damage time series, the authors take a probabilistic approach to flood damage estimation. They first develop a hydroeconomic model to asses flood-related damages and then derive a damage distribution function by applying the theory of extreme values and the sum of the random variables to the estimated damage series. It is assumed that the values of extreme damages are independent and identically distributed over the time interval (0,t] of one year and one season simultaneously. The distribution function can then be used to estimate the benefits of flood plain management projects. The Richelieu River basin has been used for a numerical application because of its combined rural and urban characteristics and the fairly large amount of information acquired through previous studies.
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- A Stochastic Approach to Flood Damage Estimation
- Springer Netherlands