Preprint Article Version 1 This version not peer reviewed

The Economic Valuation of Flood Damage to Support the Proactive Policies in Sicily

Version 1 : Received: 30 October 2017 / Approved: 31 October 2017 / Online: 31 October 2017 (02:47:04 CET)

How to cite: Trovato, M.R.; Giuffrida, S. The Economic Valuation of Flood Damage to Support the Proactive Policies in Sicily. Preprints 2017, 2017100186 (doi: 10.20944/preprints201710.0186.v1). Trovato, M.R.; Giuffrida, S. The Economic Valuation of Flood Damage to Support the Proactive Policies in Sicily. Preprints 2017, 2017100186 (doi: 10.20944/preprints201710.0186.v1).

Abstract

Although floods, as well as other natural disasters, can be considered relevant causes of intra-generational inequalities, the frequent catastrophes and the resulting damages to territory reflect the generalized indifference about inter-generational justice. Societal concerns, such as land protection, typically involve the administrative system performing proactive policies in the perspective of inter-generational solidarity, but subsidiarity has made more and more independent the local communities. As a consequence, the attention toward the long run effects – typically concerning the territorial system, as a whole, at the geographical scale – has been dispersed, and the proactive policies coming from the central government has became more ineffective. Regarding the case of the flood happened in 2009 in the Fiumedinisi-Capo Peloro hydraulic basin, in the northeastern part of Sicily, Italy, we propose an economic valuation – carried out by performing the method of the imputed preferences – in order to compare the expenses incurred by the public authorities responsible for protecting the territory to the costs of the rehabilitation of the damaged areas. Some considerations about the economic significance of the proactive policies for the arrangement of territory are addressed according to the role played by the social discount rate in the inter-temporal economic calculation.

Subject Areas

proactive policies; land protection; inter-generational solidarity; land sustainability; economic valuation; imputed preferences; imputed expenses; gis; cost-benefit analysis, social discount rate

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