Contrary, if the government invests into flood protection instead of giving subsidies, firms will produce more and consequently earn higher profits in the long term.Flood protection allows for higher economic growth than direct subsidies to firms in flood risk areas.
Already today, fluvial floods are among the most common and devastating natural disasters. The causes of coastal flooding in the Maldives are more complex than previously thought, according to a new study.Johanna Grames investigated these questions as part of her Ph D thesis supervised by Prof.Alexia Fürnkranz-Prskawetz at the Institute of Stochastics and Mathematical Methods in Economics at TU Wien.This paper proposes a multi-objective optimization model with new formulation for optimal operation of multi-reservoir systems.In this model, the release rate and the flood control capacity of each reservoir is considered as decision variable and the resulting nonlinear non-convex multi-objective optimization problem is solved with -constraint method through the mixed integer linear programming (MILP).In poorer areas, such as the Mekong Delta in Vietnam, where there is very little capital available, it may make more economic sense to boost their economic performance and accept a degree of flood risk instead of pouring resources into flood protection measures which have very little success anyway." Transparency and education Johanna Grames emphasises: "People can only make the right decisions if they have all the important facts at their disposal.We need transparency and education so that all parties involved can make rational, well-informed decisions, and this can only happen with interdisciplinary cooperation." Thus, a lot remains to be done in the research area of socio-hydrology in the future.And the risk of flooding affects us and our economic decisions.The complicated interplay of these factors is being investigated at TU Wien.The river was realigned and its conveyance made 930 cumecs.Hydraulic modeling was performed to determine its 2010 conveyance and calibrated with detailed flood observations from other studies.