Module 5- Assignment 1 The Case for or Against New Orleans

Jul 4th, 2015
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Sometimes one’s choices may involve catastrophic decisions and bear great risk and yet there can be no clear answer. For example, if a person gets a divorce, shutters a plant, sells a losing investment, or closes their business, will he or she be better off? The following case incorporates nearly all of the material you have covered this far and presents an example of one such choice where nearly all of the alternatives have a significant downside risk.

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Module 5- Assignment 1 The Case for or Against New OrleansSometimes ones choices may involve catastrophic decisions and bear great risk and yet there can be no clear answer. For example, if a person gets a divorce, shutters a plant, sells a losing investment, or closes their business, will he or she be better off? The following case incorporates nearly all of the material you have covered this far and presents an example of one such choice where nearly all of the alternatives have a significant downside risk.Review the following information from the article A Cost-Benefit Analysis of the New Orleans Flood Protection System by Stphane Hallegatte (2005):Hallegatte, an environmentalist, assigns a probability (p) of a Katrina-like hurricane of 1/130 in his cost-benefit analysis for flood protection. However, the levees that protect New Orleans also put other regions at greater risk. You may assume the frequency of other floods is greater than Katrina-like events (Vastag & Rein, 2011).The new levees that were built in response to Katrina cost approximately fourteen billion dollars (in 2010). This is in addition to the direct costs of Katrina (eighty-one billion dollars in 2005).50 percent of New Orleans is at or below sea level.A100-yearevent means that there is a 63 percent chance that such an event will occur within a 100-year period.Part AAnalyze the economics of New Orleans in light of the above parameters and develop your own Cost-Benefit Analysis (C

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