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. This comment is meant to shed some light on the use of so-called "risk aversion functions" in the management of flood risks and other natural hazards as recently proposed in this journal (Merz et al., 2009). In particular, I resume the discussion as to whether the relative damage is a suitable indicator of risk aversion and lay out why the use of this indicator may lead to inefficient decisions upon flood mitigation measures.

natural hazards and earth system sciences

Comment on &amp;quot;Significance of &amp;quot;high probability/low damage&amp;quot; versus &amp;quot;low probability/high damage&amp;quot; flood events&amp;quot; by Merz et al. (2009)