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Published online by Cambridge University Press: 10 May 2017
Resource economists and the federal government have shown a growing awareness of the role of non-structural measures (such as floodplain zoning) as an important part of an overall flood damage reduction program. This awareness has come in part with the realization that structural measures often provide a false sense of security to floodplain occupants and, as such, often result in increased flood damages contrary to their intended purpose. To be sure, restrictions prohibiting all development in flood prone areas could eliminate all damages. There are no a priori reasons, however, to believe that all uses should be prohibited from all floodplain areas. Through sound land use management practices, some of these areas can, in fact, be put to economic use such that the benefits derived outweigh the costs associated with such development.
The authors wish to express appreciation for the financial support provided by the Office of Water Resources Research, Grant WR B-043, and to Professors John Foster and Jon Conrad for helpful comments on an earlier draft. We are also indebted to Drs. Ron Armstrong and Prabhakant Sinha for assistance with the computer program used for the solution of this model. Any remaining errors are, of course, the responsibility of the authors.