Rising ocean levels have resulted in increasingly severe flooding in numerous metropolitan coastal areas. What would it cost to minimize or eliminate such damage? Relatively little economic work has been done to provide an answer, at least partially because some authorities believe attempts to deal with flooding ultimately are futile. Further, discussions of funding always involve massive welfare transfers from the non-flooded to the flooded. The cost of erecting a single mile of new sea wall exceeds $35 million in 2009 dollars and annual maintenance costs range between 5 and 10 percent
