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<br />considered. For example, a benefit-cost analysis should be performed for <br /> <br />each major subgroup (private and public, or flood plain occupants and <br /> <br />non-flood plain occupants) in conjunction with the overall benefit-cost <br /> <br />analysis which considers all of the benefits and all of the costs. The <br /> <br />. <br /> <br />overall benefit-cost analysis will identify the most economical alter- <br /> <br />native without considering the question of equity. It will indicate the <br /> <br />most cost effective alternative regardless of which groups benefit and <br /> <br />which groups pay. The incidence analysis will indicate the most economi- <br /> <br />cal alternative from the points of view of the various subgroups concerned. <br /> <br />Thus the extent of any .i.ncome butn.6 neJt will be identified and can be <br /> <br />minimized by appropriate alternative selection. <br /> <br />Estimation of the total flood damage is a difficult process because <br /> <br />usable data are not available for estimatin~flOOd damage for commercial <br /> <br /> <br />and industrial establishments and for estimating damage for all cate- <br /> <br />gories due to the velocity of flow. The state-of-the-art for estimating <br /> <br />flood damage to residential structures and contents is summarized later. <br /> <br />The inventory of benefits presented in Table II-l contains a reduced <br /> <br />probability of loss of life. Quantification of this benefit requires <br /> <br />estimation of the value (or damage due to loss) of a human life and the <br /> <br />probability of loss for given floods. Placing a dollar value or the <br /> <br />value of life is a controversial concept, although the judicial system of <br /> <br />this country does it frequently, principally in automobile accidents and <br /> <br />negligence disputes. The engineer should consider quantification of the <br /> <br />value of human life for estimating this benefit; value judgments of the <br /> <br />public and the decisionmaking body concerning this subject will weigh in <br /> <br />his decision. A method for computing the value of human life is presented <br /> <br />by Buehler 14]. The probability for loss of life for various design <br /> <br />42 <br /> <br />, <br />