The Value of Protecting Venice from the Acqua Alta Phenomenon under Different Local Sea Level Rises Report as inadecuate




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Abstract

Venice Italy is built on several islands inside a lagoon. It undergoes a periodical �ooding phenomenon, called -Acqua Alta- AA. A system of mobile dams, called Mo.S.E., is currently under construction to protect it. When needed, several fl�oodgates will be lifted to separate the lagoon from the Adriatic sea. AA, whose length and height has been increasing in recent years, is a random phenomenon, correlated with local sea level rise LSLR. Several possible LSLRs can be assumed as consequences of differentglobal warming scenarios. We investigate here the cost-bene�t of Mo.S.E. under different possible LSLRs.First, we simulate the future patterns of AA for the next 50 years under alternative LSLRs. Then, we calculate the bene�t of Mo.S.E., converting each avoided AA episode into an economic value avoided cost. We show that the bene�ts are just at the level of the costs, when a low LSLR is assumed and increase with LSLR, provided that it does not reache a catastrophic yet unpredictable extreme level.



Item Type: MPRA Paper -

Original Title: The Value of Protecting Venice from the Acqua Alta Phenomenon under Different Local Sea Level Rises-

Language: English-

Keywords: Cost-benefit, Acqua Alta, Tide level simulation-

Subjects: C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion ProcessesC - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C53 - Forecasting and Prediction Methods ; Simulation MethodsD - Microeconomics > D6 - Welfare Economics > D61 - Allocative Efficiency ; Cost-Benefit AnalysisQ - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q57 - Ecological Economics: Ecosystem Services ; Biodiversity Conservation ; Bioeconomics ; Industrial Ecology-





Author: Caporin, Massimiliano

Source: https://mpra.ub.uni-muenchen.de/53779/







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