Optimal system safety targets: Incorporating hydrodynamic interactions in an economic cost-benefit analysis for flood defence systems

Historically, people in flood-prone areas world-wide have (to a certain degree) accepted the risk of being flooded because of the benefits that flood-prone areas can provide; examples of such benefits are rich agricultural lands or trade advantages. Acceptance and benefits notwithstanding, people living in flood-prone areas have tried, and will continue to try, to reduce and manage their vulnerability and degree of exposure to floods. A typical risk reduction measure is building flood defences...