Costs of Defending Against Rising Sea Levels and Flooding in Mid-Atlantic Metropolitan Coastal Areas: The Basic Issues
AbstractRising ocean levels have resulted in increasingly severe flooding in numerous metropol-itan coastal areas. What would it cost to minimize or eliminate such damage? Relatively little economic work has been done to provide an answer, at least partially because some authori-ties believe attempts to deal with flooding ultimately are futile. Further, discussions of fund-ing always involve massive welfare transfers from the non-flooded to the flooded. The cost of erecting a single mile of new sea wall exceeds $35 million in 2009 dollars and annual mainten-ance costs range between 5 and 10 percent.
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Bibliographic InfoArticle provided by Mid-Continent Regional Science Association in its journal Journal of Regional Analysis and Policy.
Volume (Year): 40 (2010)
Issue (Month): 1 ()
Environmental Economics and Policy; Risk and Uncertainty;
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- Tsvetan Tsvetanov & Farhed Shah, 2013. "The economic value of delaying adaptation to sea-level rise: An application to coastal properties in Connecticut," Climatic Change, Springer, vol. 121(2), pages 177-193, November.
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