The Role of Ambiguity in the Evaluation of the Net Benefits of the MOSE System in the Venice Lagoon
Several environmental problems are complicated by ambiguity. Sea-level rise following climate change is
one relevant example. In this paper, we apply a decision-making approach specifically designed to deal with
ambiguity in order to evaluate the net benefits of the mobile barriers system (MOSE), which aims to protect
the Venice Lagoon from periodic flooding. We show that the estimated impacts crucially depend on the level
of optimism and pessimism of the decision maker and substantially differ from those calculated on the basis
of the expected value. We also calculate the implicit ambiguity attitude of the decision maker.
FONTINI Fulvio;
UMGIESSER Georg;
VERGANO Lucia;
2010-08-24
ELSEVIER SCIENCE BV
JRC56676
0921-8009,
www.elsevier.com/locate/ecolecon,
https://publications.jrc.ec.europa.eu/repository/handle/JRC56676,
10.1016/j.ecolecon.2010.05.008,
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