Chat with us, powered by LiveChat Review the following information from the article “A Cost-Benefit Analysis of the New Orleans Flood Protection System” |

Assume that the availability heuristics makes people more risk
averse (populations drop, at least in the short term). Consider how this would
affect the local economy.
You are an analyst at FEMA and are in charge of developing a
recommendation for both the state and the local governments on whether or not
to redevelop New Orleans.
Write a report with your recommendation. Address the following in
your report:
Part A
the economics of New Orleans in light of the above parameters and develop
your own Cost-Benefit Analysis (CBA) for rebuilding.Evaluate
the value of the CBA for each constituency and integrate these estimates
into a scenario model and/or decision tree. Analyze the results.Clearly
each of these constituencies may both overlap and be prey to a variety of
group dynamics internally. For one of these options, discuss the decision
pitfalls to which they may be susceptible and make a recommendation on how
to alleviate these pressures.Starting
with your CBA, estimate the relevant expected utility for theinterested
Note:You need not have absolute amounts but your
relevant utilities should be proportional to one another.
Hint:If you assume that your totalCBA for New Orleans is fixed for each
constituency (do not forget the overlaps), then each constituency will have a
piece of the utility pie.
Part B
Make a
case for or against rebuilding the city of New Orleans. This should be an
executive summary; be concise and brief. Include exhibits.Whether
you are for or against, discuss how social heuristics could be used to
your advantage, both ethically and unethically, in making your case. You
may choose to fill the role of one of the constituents, if you prefer.
Write an 8–10-page report in Word format. Apply APA standards to
citation of sources. Use proper spelling and grammar throughout, and keep the
text legible and balanced with visuals. Use the following file naming
convention: LastnameFirstInitial_M6_A2.doc.

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