Determination of the potential economic flood damages in Medzev, Slovakia

Abstract

It is important to remember that a flood in a modern economy is expected to bring about a whole gamut of consequences. The costs of damage caused by extreme weather events (among which floods are a major category) have shown a rapid upward trend globally. The scope and extremity of flood episodes point to the need to design and build a comprehensive system of flood protection measures in potential flood areas. The main goal of this study is the proposal of a process of the assessment of flood risk with the aim of reducing adverse consequences on the economic activities associated with floods. The consequences of flooding can take many forms, whether material damage, injury, deaths, environmental contamination, and so forth. Potential flood damage is related to movable and immovable property and variously defined natural and landscape values in inundated areas. In this study, the process for determining the potential flood damage to property (economic damage) is applied with the aim of effective flood protection in the area.

Geomatic-Based Flood Loss Assessment and Its Application in an Eastern City of China

“…Therefore, machine learning is also widely used [26,27]. Most of these studies estimated flood losses based on available cases and empirical evidence [28][29][30][31]. Some researchers have developed integrated systems to assess flood losses with remote sensing, geographic information systems, or coupled hydro-economic models [32][33][34][35].…”

Modelling the behaviour of corporations during the flood damage recovery process using multi‐agent deep reinforcement learning

“…There is a growing number of academic studies aimed at improving the assessment of the economic risks associated with flooding around the world. For example, some have developed or applied engineering approaches by using building damage or depth damage curves to estimate the economic damage of flood inundation areas (Deniz et al, 2017; Dottori et al, 2016; Heather et al, 2019; Molinari & Scorzini, 2017; Neubert et al, 2016; Scorzini & Frank, 2017; Thieken et al, 2015; Van Ootegem et al, 2018; Zeleňáková et al, 2018). Some have developed or applied an econometric approach by using input–output tables or statistical data, which are often used in models to estimate the economic spillover of floods to other areas (Delalay et al, 2020; Mendoza‐Tinoco et al, 2017; Mochizuki et al, 2015; Sieg et al, 2019; Wu & Guo, 2021).…”

LCC Estimation Model: A Construction Material Perspective

“…In this regard, there is a lack of consensus in the relevant literature. Some authors consider the lifespan of 50 years [7][8][9], others use the value of 60 [10,11] years, while others even compare different service lifespans (30,50 and 100 years) [12]. Generally speaking, the lifespan should correspond to the expected period of use, which may depend on the building's technical parameters (wood/concrete structure) or expected time of operation (from the investor's point of view), while it is also necessary to consider the lifespan of individual building elements.…”

“…In this regard, the LCC approach also differs in that it takes into consideration the vulnerability of buildings to a particular risk, the risk exposure in a given location, as well as refurbishment costs incurred on account of the damage. There are numerous studies providing methodologies for estimating loss caused by natural hazards (see e.g., [30] for flood risk); however, distributing these losses over the lifespan of the building is subject to uncertainty from the NPV perspective.…”