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<article language="en">
	<journal>
		<journal_title>Natural Hazards and Earth System Science</journal_title>
		<journal_url>www.nat-hazards-earth-syst-sci.net</journal_url>
		<issn>1561-8633</issn>
		<eissn>1684-9981</eissn>
		<volume_number>10</volume_number>
		<issue_number>8</issue_number>
		<publication_year>2010</publication_year>
	</journal>
	<doi>10.5194/nhess-10-1697-2010</doi>
	<article_url>http://www.nat-hazards-earth-syst-sci.net/10/1697/2010/</article_url>
	<abstract_html>http://www.nat-hazards-earth-syst-sci.net/10/1697/2010/nhess-10-1697-2010.html</abstract_html>
	<fulltext_pdf>http://www.nat-hazards-earth-syst-sci.net/10/1697/2010/nhess-10-1697-2010.pdf</fulltext_pdf>
	<start_page>1697</start_page>
	<end_page>1724</end_page>
	<publication_date>2010-08-18</publication_date>
	<article_title content_type="html">Review article &quot;Assessment of economic flood damage&quot;</article_title>
	<authors>
		<author numeration="1" affiliations="1">
			<name>B. Merz</name>
			<email>bmerz@gfz-potsdam.de</email>
		</author>
		<author numeration="2" affiliations="1">
			<name>H. Kreibich</name>
		</author>
		<author numeration="3" affiliations="2,4">
			<name>R. Schwarze</name>
		</author>
		<author numeration="4" affiliations="3,4">
			<name>A. Thieken</name>
		</author>
	</authors>
	<affiliations>
		<affiliation numeration="1" content_type="html">Helmholtz Centre Potsdam, German Research Centre for Geosciences (GFZ), Telegrafenberg, 14473 Potsdam, Germany</affiliation>
		<affiliation numeration="2" content_type="html">Helmholtz Centre for Environmental Research – UFZ, Permoser Straße 15, 04316 Leipzig, Germany</affiliation>
		<affiliation numeration="3" content_type="html">alpS – Centre for Natural Hazard and Risk Management and Leopold-Franzens-University Innsbruck, Grabenweg 3, 6020 Innsbruck, Austria</affiliation>
		<affiliation numeration="4" content_type="html">CSC – Climate Service Center, GKSS-Forschungszentrum Geesthacht GmbH, Bundesstrasse 45a, 20146 Hamburg, Germany</affiliation>
	</affiliations>
	<abstract content_type="html">Damage assessments of natural hazards supply crucial information to decision
support and policy development in the fields of natural hazard management and
adaptation planning to climate change. Specifically, the estimation of
economic flood damage is gaining greater importance as flood risk management
is becoming the dominant approach of flood control policies throughout
Europe. This paper reviews the state-of-the-art and identifies research
directions of economic flood damage assessment. Despite the fact that
considerable research effort has been spent and progress has been made on
damage data collection, data analysis and model development in recent years,
there still seems to be a mismatch between the relevance of damage
assessments and the quality of the available models and datasets. Often,
simple approaches are used, mainly due to limitations in available data and
knowledge on damage mechanisms. The results of damage assessments depend on
many assumptions, e.g. the selection of spatial and temporal boundaries, and
there are many pitfalls in economic evaluation, e.g. the choice between
replacement costs or depreciated values. Much larger efforts are required for
empirical and synthetic data collection and for providing consistent,
reliable data to scientists and practitioners. A major shortcoming of damage
modelling is that model validation is scarcely performed. Uncertainty
analyses and thorough scrutiny of model inputs and assumptions should be
mandatory for each damage model development and application, respectively. In
our view, flood risk assessments are often not well balanced. Much more
attention is given to the hazard assessment part, whereas damage assessment
is treated as some kind of appendix within the risk analysis. Advances in
flood damage assessment could trigger subsequent methodological improvements
in other natural hazard areas with comparable time-space properties.</abstract>
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</article>

