Latest Research Paper Published
Our latest research paper has been published by the journal Water Resources Research, by the American Geophysical Union. The paper outlines the methodology behind our Fathom US flood model.
More specifically we seek to understand the nature of flood spatial dependence over the conterminous United States. We extend an existing conditional multivariate statistical model to enable its application to this large and heterogenous region and apply it to a 40‐year data set of ~2,400 U.S. Geological Survey gauge series records to simulate 1,000 years of U.S. flooding comprising more than 63,000 individual events with realistic spatial dependence. Our existing US hazard data are then used to calculate the economic loss arising from each of these events. From this we are able to compute the probability that different values of U.S. annual total economic loss due to flooding are exceeded (i.e., a loss‐exceedance curve). Comparing these data to an observed flood loss‐exceedance curve for the period 1988–2017 shows a reasonable match for annual losses with probability below 10% (e.g., >1 in 10‐year return period). This analysis suggests that there is a 1% chance of U.S. annual fluvial flood losses exceeding $78Bn in any given year, and a 0.1% chance of them exceeding $136Bn. Analysis of the set of stochastic events and losses yields new insights into the nature of flooding and flood risk in the United States. In particular, we confirm the strong relationship between flood affected area and event peak magnitude, but show considerable variability in this relationship between adjacent U.S. regions. The analysis provides a significant advance over previous national flood risk analyses as it gives the full loss‐exceedance curve instead of simply the average annual loss.
You can read the open access paper here:
Many thanks to all those who contributed to the work!