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An Empirical Model of Efficiency Analysis on Flood Prevention Investment in Japan

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  • Guofang Zhai
  • Teruki Fukuzono
  • Saburo Ikeda

Abstract

This paper aims to evaluate the comprehensive efficiency of flood disaster prevention investment from 1955 to 1999 by developing and applying an integrated evaluation model. Our analysis results have clarified some important issues currently being discussed in Japan. Firstly, the average values of normalized flood losses decreased greatly between the 1955†1961 period and the 1984†1999 period. Secondly, the ratio of human loss to total loss caused by floods in Japan may be less than 10%, based on the concept of the value of statistical life (VOSL) and values estimated from the risk†money tradeoff. The proportion of intangible effect to total loss increased from less than 10% before the 1970s to approximately 20% after that period. Finally, flood prevention investment in Japan effectively reduced losses caused by flooding before the 1960s; however, since the 1980s, investment has changed from an efficient mode to an inefficient mode, not only from the economic standpoint, but also from that of total flood loss saving.

Suggested Citation

  • Guofang Zhai & Teruki Fukuzono & Saburo Ikeda, 2003. "An Empirical Model of Efficiency Analysis on Flood Prevention Investment in Japan," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 15(3), pages 238-254, November.
    • Handle: RePEc:bla:revurb:v:15:y:2003:i:3:p:238-254
    DOI: 10.1111/j.1467-940X.2003.00075.x
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    Cited by:

    1. Aditi Kharb & Sandesh Bhandari & Maria Moitinho de Almeida & Rafael Castro Delgado & Pedro Arcos González & Sandy Tubeuf, 2022. "Valuing Human Impact of Natural Disasters: A Review of Methods," IJERPH, MDPI, vol. 19(18), pages 1-11, September.
    2. Marija Bockarjova & Piet Rietveld & Erik T. Verhoef, 2012. "Composite Valuation of Immaterial Damage in Flooding: Value of Statistical Life, Value of Statistical Evacuation and Value of Statistical Injury," Tinbergen Institute Discussion Papers 12-047/3, Tinbergen Institute.
    3. Guofang Zhai & Saburo Ikeda, 2006. "Flood Risk Acceptability and Economic Value of Evacuation," Risk Analysis, John Wiley & Sons, vol. 26(3), pages 683-694, June.

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