TY  - JOUR
PY  - 2014//
TI  - Integrated direct and indirect flood risk modeling: development and sensitivity analysis
JO  - Risk analysis
A1  - Koks, E. E.
A1  - Bočkarjova, M.
A1  - de Moel, H.
A1  - Aerts, Jeroen C. J. H.
SP  - 882
EP  - 900
VL  - 35
IS  - 5
N2  - In this article, we propose an integrated direct and indirect flood risk model for small- and large-scale flood events, allowing for dynamic modeling of total economic losses from a flood event to a full economic recovery. A novel approach is taken that translates direct losses of both capital and labor into production losses using the Cobb-Douglas production function, aiming at improved consistency in loss accounting. The recovery of the economy is modeled using a hybrid input-output model and applied to the port region of Rotterdam, using six different flood events (1/10 up to 1/10,000). This procedure allows gaining a better insight regarding the consequences of both high- and low-probability floods. The results show that in terms of expected annual damage, direct losses remain more substantial relative to the indirect losses (approximately 50% larger), but for low-probability events the indirect losses outweigh the direct losses. Furthermore, we explored parameter uncertainty using a global sensitivity analysis, and varied critical assumptions in the modeling framework related to, among others, flood duration and labor recovery, using a scenario approach. Our findings have two important implications for disaster modelers and practitioners. First, high-probability events are qualitatively different from low-probability events in terms of the scale of damages and full recovery period. Second, there are substantial differences in parameter influence between high-probability and low-probability flood modeling. These findings suggest that a detailed approach is required when assessing the flood risk for a specific region.<p />  <p>Language: en</p>
LA  - en
SN  - 0272-4332
UR  - http://dx.doi.org/10.1111/risa.12300
ID  - ref1
ER  -