Efficient or Fair? Operationalizing Ethical Principles in Flood Risk Management: A Case Study on the Dutch‐German Rhine

Flood risk management decisions in many countries are based on decision‐support frameworks which rely on cost‐benefit analyses. Such frameworks are seldom informative about the geographical distribution of risk, raising questions on the fairness of the proposed policies. In the present work, we propose a new decision criterion that accounts for the distribution of risk reduction and apply it to support flood risk management decisions on a...