Project #15571 - assignment

Write an 9-page report in Word format. Apply APA standards to citation of sources.

-Assume that the availability heuristics make 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 1 (3-pages)

Viewing a community of people as an economic unit and assessing its value is an extremely complex task.  In exploring the question of rebuilding New Orleans after Katrina, we have to ask ourselves: What do we mean by “rebuilding?”  We will assume here that “rebuilding” means to reconstruct the pre-Katrina infrastructure and properties.  We have choices:

1.     Discuss the possible alternatives of “rebuilding” New Orleans. Make and justify your choice: Do we reconstruct exactly what was there?  Do we make levees stronger and/or more extensive?  Do we reconstruct private properties (or assist, with money and/or technology, in their reconstruction)? 

2.     Describe the economics of New Orleans and discuss the estimated cost for rebuilding N. Orleans and the potential benefits: Consider how much and which constituents might share the reconstruction costs? What are the direct economic costs of each choice?  What are the indirect economic costs?  What are the opportunity costs?

Part 2 (3- pages)

3.     Once we take into account the scenario in point (1) above, we can examine their implementation.  For each scenario of reconstruction, not all actions are decided on day one.  As we start with a chosen scenario, the outcomes of each stage of implementation may guide our ensuing actions.  Say, for example, that we choose to build stronger and more extensive levees, as well as rebuild all other infrastructures and private property. The implementation of these choices has to be scheduled.  Say, Phase 1, includes the reconstruction of some levees, with an associated cost, and time required for completion. What do we do if we exceed the cost by some amount?  What if we exceed the time for completion? How does completion on time and on budget, and deviation from either or both affect the planned activities that follow? For example, if the Phase 1 realized costs of $4 billion exceeded budgeted costs of $3 billion (by 33.3%), do we still continue with all activities in Phase 2, or do we scale down all of Phase 2 activities, or do we eliminate some Phase 2 activities.

 

Create a basic decision tree for deciding to rebuild N. Orleans. In it, describe the basic decisions that can be made as the activities (events) take place over time. Think about who contributes to each of the decisions and how (what their choice would be): the residents, the mayor and the Federal Government perspective.   The decision tree does not have to be extremely complex and complete.  The most important criterion here is to create a decision tree which is reasonable and examines a number of alternative evolutions of the reconstruction project. Do not attempt to be very quantitative with probabilities of events, just use reasonable estimates from your readings.

-Discuss the decision pitfalls that may be affecting various constituencies and make a recommendation on how to alleviate pressures that may lead to these pitfalls..

 

Part 3 (1.5 pages)

Based on Part 1 and Part 2 above, write a summary of the case for or against rebuilding the city of New Orleans.

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.

Review the following information from the article “A Cost-Benefit Analysis of the New Orleans Flood Protection System” by Stéphane Hallegatte (2005):

--Hallegatte, S. (2006). A cost-benefit analysis of the New Orleans flood protection system. Center for Environmental Sciences and Policy. Stanford University. Retrieved from

http://hal.cirad.fr/docs/00/16/46/28/PDF/Hallegatte_NewOrleans_CBA9.pdf

 

--Vastag, B., & Rein, L. (2011, May 11). In Louisiana, a choice between two floods. The Washington Post. Retrieved from

http://www.washingtonpost.com/national/in-louisiana-a-choice-between-two floods/2011/05/11/AFrjFotG_story.html 

 

 

 

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