A PROBABILISTIC BENEFIT-COST ANALYSIS OF A ZONING PROGRAM FOR FLOOD PLAINS1

ABSTRACT: Various techniques, one of which is zoning, are used to control the extent of flood damage. The benefit-cost analysis of zoning programs must take into account the random nature of flooding. This paper outlines a method for determining not only the expected value of the benefit-cost ratio, but also the probability of such a zoning program being profitable. It also presents an application of the method to the assessment of the Outaouais Regional Community zoning program.