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However, in 2019, major changes were made, and the new program called Risk Rating 2.0 was introduced, which prices a house on its individual flood risk. [70] It will account for the distance one's house is from a flood source, the types and frequency of flooding, and characteristics of the cost to rebuild.
Introduced by Jules Dupuit in the 1840s, French engineer and economist, the cost benefit analysis is a methodology used in policy analysis as a way of weighing up projects costs and benefits, to determine whether to go ahead with a project. Beyea (1999), [167] identifies the types of cost analysis used in policy making to aid decision process ...
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Value-based pricing. Value-based price, also called value-optimized pricing or charging what the market will bear, is a market-driven pricing strategy which sets the price of a good or service according to its perceived or estimated value. [1] The value that a consumer gives to a good or service, can then be defined as their willingness to pay ...
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Artificial intelligence (AI), in its broadest sense, is intelligence exhibited by machines, particularly computer systems.It is a field of research in computer science that develops and studies methods and software that enable machines to perceive their environment and use learning and intelligence to take actions that maximize their chances of achieving defined goals. [1]
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