Objective Economic Analysis
An important role in the decision-making process.
Issues surrounding flood risk reduction, such as addressing system-wide improvements or site-specific repairs, are complex and require significant public and private funding. These investments would benefit from improvements in benefit:cost valuations.
The University of Missouri is well-suited to partner with state and federal agencies in developing comprehensive benefit:cost models from benefits of ecosystem services to accurate damage assessments based upon local and regional economic impacts and modern production agriculture practices. This includes evaluation of crop insurance premiums, crop loss payments, and ad hoc disaster relief. Access to econometric models developed by the University’s Food and Agricultural Policy Research Institute (FAPRI) allows for the use of long-term commodity price and cost projections.
