The valuation of benefits and costs of flood control measures

This thesis has been undertaken with the three following purposes in mind: (1) the exploration of factors which may contribute to or impede the establishment of conditions of comparability for the comparison of benefits and costs of proposed flood control measures; (2) the identification of certain questionable practices which occur in some current flood control reports; (3) the investigation of a scale of social value which might serve as an advantageous alternative to the prevalent market value scale for use in measuring benefits and costs. Recurrent throughout has been the intent to contribute something to our knowledge of the most acceptable practices and procedures to be employed in reaching a logical conclusion to the question: within what limits is the nation justified in devoting its money, labor, and materials to the prosecution of measures aimed at minimizing the unfavorable affects of flood flows on the local and national economy?