InstructionsAssignment 1: Required Assignment 2—The Case For, or Against, New OrleansSometimes one’s choices may involve catastrophic decisions and bear great risk and yet there can be no clear answer. For example, if a person gets a divorce, shutters a plant, sells a losing investment, or closes their business, will he or she be better off? The following case incorporates nearly all of the material you have covered this far and presents an example of one such choice where nearly all of the alternatives have a significant downside risk.Review the following information from the article “A Cost-Benefit Analysis of the New Orleans Flood Protection System” by Stéphane Hallegatte (2005):Hallegatte, an environmentalist, assigns a probability (p) of a Katrina-like hurricane of 1/130 in his cost-benefit analysis for flood protection. However, the levees that protect New Orleans also put other regions at greater risk. You may assume the frequency of other floods is greater than Katrina-like events (Vastag & Rein, 2011).The new levees that were built in response to Katrina cost approximately fourteen billion dollars (in 2010). This is in addition to the direct costs of Katrina (eighty-one billion dollars in 2005).50 percent of New Orleans is at or below sea level.A 100-year event means that there is a 63 percent chance that such an event will occur within a 100-year period.The following are the interested (anchored and/or biased) constituencies:Residents of New Orleans—both those that can move and those who cannot moveResidents of the surrounding floodplains at risk from New Orleans leveesThe Mayor of New OrleansThe federal government—specifically taxpayers and the Federal Emergency Management Agency (FEMA)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 AAnalyze the economics of New Orleans in light of the above parameters and develop your own Cost-Benefit Analysis (CBA) for rebuilding.Evaluate the value of the CBA for each constituency and integrate these estimates into a scenario model and/or decision tree. Analyze the results.Clearly each of these constituencies may both overlap and be prey to a variety of group dynamics internally. For one of these options, discuss the decision pitfalls to which they may be susceptible and make a recommendation on how to alleviate these pressures.Starting with your CBA, estimate the relevant expected utility for the interested constituencies.Note: You need not have absolute amounts but your relevant utilities should be proportional to one another.Hint: If you assume that your total CBA for New Orleans is fixed for each constituency (do not forget the overlaps), then each constituency will have a piece of the utility pie.Part BMake a case for or against rebuilding the city of New Orleans. This should be an executive summary; be concise and brief. Include exhibits.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.Write an 8–12-page report in Word format. Apply APA standards to citation of sources. Use proper spelling and grammar throughout, and keep the text legible and balanced with visuals. Use the following file naming convention: LastnameFirstInitial_M5_A1.doc.By the due date assigned, deliver your assignment to the Submissions Area.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.pdfVastag, 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
Assignment 1 Grading Criteria Maximum PointsAnalyze the economics of New Orleans in light of the given parameters and develop a Cost- Benefit Analysis (CBA) for rebuilding.32Evaluate the value of that CBA for each constituency and integrate these estimates into a scenario model and/or decision tree. Analyze the results.68Discuss the decision pitfalls to which constituencies may be susceptible and make a recommendation on how to alleviate those pressures.32Starting with the CBA, estimate the relevant expected utility for these parties.32Make a case for or against rebuilding the city of New Orleans. This should be an executive summary—be concise and brief. Include exhibits.68Discuss how social heuristics could be used to an advantage, both ethically and unethically, in making a case.32Estimate what percentage of the class was for, versus against, rebuilding and provide a confidence interval for the estimate.8Ensure academic writing, such as grammar, spelling, and attribution of sources, is appropriate.28Total:300
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.