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An improper solution to the flood cost sharing problem

Author

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  • Müller, David
  • Pisch, Marcus Franz Konrad

Abstract

A model for sharing the costs of flood damage has recently been proposed in this journal (Abraham and Ramachandran, 2020). The suggested model is correct from a mathematical point of view, but unfortunately lacks economic coherence.

Suggested Citation

  • Müller, David & Pisch, Marcus Franz Konrad, 2024. "An improper solution to the flood cost sharing problem," Economics Letters, Elsevier, vol. 238(C).
    • Handle: RePEc:eee:ecolet:v:238:y:2024:i:c:s0165176524001897
    DOI: 10.1016/j.econlet.2024.111706
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    More about this item

    Keywords

    Cost sharing; River sharing problem; Shapley value; Utility theory;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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