 |
| Titel |
Willingness-to-pay for a probabilistic flood forecast: a risk-based decision-making game |
| VerfasserIn |
Louise Arnal, Maria-Helena Ramos, Erin Coughlan, Hannah L. Cloke, Elisabeth Stephens, Fredrik Wetterhall, Schalk-Jan van Andel, Florian Pappenberger |
| Konferenz |
EGU General Assembly 2016
|
| Medientyp |
Artikel
|
| Sprache |
en
|
| Digitales Dokument |
PDF |
| Erschienen |
In: GRA - Volume 18 (2016) |
| Datensatznummer |
250127366
|
| Publikation (Nr.) |
 EGU/EGU2016-7232.pdf |
|
|
|
|
|
| Zusammenfassung |
| Forecast uncertainty is a twofold issue, as it constitutes both an added value and a challenge for the forecaster and the user of the forecasts. Many authors have demonstrated the added (economic) value of probabilistic forecasts over deterministic forecasts for a diversity of activities in the water sector (e.g. flood protection, hydroelectric power management and navigation). However, the richness of the information is also a source of challenges for operational uses, due partially to the difficulty to transform the probability of occurrence of an event into a binary decision. The setup and the results of a risk-based decision-making experiment, designed as a game on the topic of flood protection mitigation, called ``How much are you prepared to pay for a forecast?'', will be presented. The game was played at several workshops in 2015, including during this session at the EGU conference in 2015, and a total of 129 worksheets were collected and analysed. The aim of this experiment was to contribute to the understanding of the role of probabilistic forecasts in decision-making processes and their perceived value by decision-makers. Based on the participants' willingness-to-pay for a forecast, the results of the game showed that the value (or the usefulness) of a forecast depends on several factors, including the way users perceive the quality of their forecasts and link it to the perception of their own performances as decision-makers. Balancing avoided costs and the cost (or the benefit) of having forecasts available for making decisions is not straightforward, even in a simplified game situation, and is a topic that deserves more attention from the hydrological forecasting community in the future. |
|
|
|
|
|
|