Title The Future of Risk Management
Subtitle
Author Howard Kunreuther, Robert J. Meyer , Erwann O. Michel-Kerjan
ISBN 9780812251326
List price GBP 69.00
Price outside India Available on Request
Original price
Binding Hardbound
No of pages 416
Book size 153 x 229 mm
Publishing year 2019
Original publisher University of Pennsylvania Press (Combined Academic Publishers)
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
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Description:

Whether man-made or naturally occurring, large-scale disasters can cause fatalities and injuries, devastate property and communities, savage the environment, impose significant financial burdens on individuals and firms, and test political leadership. Moreover, global challenges such as climate change and terrorism reveal the interdependent and interconnected nature of our current moment: what occurs in one nation or geographical region is likely to have effects across the globe. Our information age creates new and more integrated forms of communication that incur risks that are difficult to evaluate, let alone anticipate. All of this makes clear that innovative approaches to assessing and managing risk are urgently required.

When catastrophic risk management was in its inception thirty years ago, scientists and engineers would provide estimates of the probability of specific types of accidents and their potential consequences. Economists would then propose risk management policies based on those experts’ estimates with little thought as to how this data would be used by interested parties. Today, however, the disciplines of finance, geography, history, insurance, marketing, political science, sociology, and the decision sciences combine scientific knowledge on risk assessment with a better appreciation for the importance of improving individual and collective decision-making processes.

The essays in this volume highlight past research, recent discoveries, and open questions written by leading thinkers in risk management and behavioral sciences. The Future of Risk Management provides scholars, businesses, civil servants, and the concerned public tools for making more informed decisions and developing long-term strategies for reducing future losses from potentially catastrophic events.


Contents:

Introduction (Howard Kunreuther, Robert J. Meyer, and Erwann O. Michel-Kerjan)

 

Part I: Behavioral Factors Influencing Decision-Making Under Risk and Uncertainty

Chapter 1. The Arithmetic of Compassion and the Future of Risk Management (Paul Slovic and
Daniel Västfjäll)

Chapter 2. “Risk as Feelings” and “Perception Matters”: Psychological Contributions on Risk, Risk-Taking, and Risk Management (Elke U. Weber)

Chapter 3. Risk-Based Thinking (Baruch Fischhoff)

Chapter 4. Structured Empirical Analysis of Decisions Under Natural Hazard Risk (Craig E. Landry,
Gregory Colson, and Mona Ahmadiani)

Chapter 5. Mixing Rationality and Irrationality in Insurance Demand and Supply (Mark Pauly)

Chapter 6. The Disaster Cycle: What We Do Not Learn from Experience (Robert J. Meyer)

 

Part II: Improving Risk Assessment

Chapter 7. Using Models to Set a Baseline and Measure Progress in Reducing Disaster Casualties
 (Robert Muir-Wood)

Chapter 8. Learning from All Types of Near-Misses (Robin Dillon)

Chapter 9. Managing Systemic Industry Risk: The Need for Collective Leadership (Paul J. H. Schoemaker)

Chapter 10. Measuring Economic Resilience: Recent Advances and Future Priorities (Adam Rose)

 

Part III: Developing Better Risk Communication Strategies

Chapter 11. Improving Stakeholder Engagement for Upstream Risks (Robin Gregory and Nate Dieckmann)

Chapter 12. Improving the Accuracy of Geopolitical Risk Assessments (Barbara A. Mellers, Philip E. Tetlock, Joshua D. Baker, Jeffrey A. Friedman, and Richard Zeckhauser)

Chapter 13. Efficient Warnings, Not “Wolf or Puppy” Warnings (Lisa A. Robinson, W. Kip Viscusi, and Richard Zeckhauser)

 

Part IV. Role of Risk Mitigation, Risk-Sharing, and Insurance

Chapter 14. Threats to Insurability (Carolyn Kousky)

Chapter 15. The Role of Insurance in Risk Management for Natural Disasters: Back to the Future (Howard Kunreuther)

Chapter 16. Improving Individual Flood Preparedness Through Insurance Incentives (W. J. Wouter Botzen)

Chapter 17. Strong and Well-Enforced Building Codes as an Effective Disaster Risk Reduction Tool: An Evaluation (Jeffrey Czajkowski)

 

Part V: Government and Risk Management

Chapter 18. Getting the Blend Right: Public-Private Partnerships in Risk Management (Cary Coglianese)

Chapter 19. The Regulation of Insurance Markets Subject to Catastrophic Risks (Robert W. Klein)

Chapter 20. Rethinking Government Disaster Relief in the United States: Evidence and a Way Forward (Erwann O. Michel-Kerjan)

List of Contributors

Name Index

Subject Index


About the Editors:

Howard Kunreuther is the James G. Dinan Professor of Decision Sciences and Public Policy in the Operations, Information, and Decisions Department, and Co-Director of the Risk Management and Decision Processes Center at the Wharton School, University of Pennsylvania. He is coeditor of On Risk and Disaster: Lessons from Hurricane Katrina, also available from the University of Pennsylvania Press.

Robert J. Meyer is the Frederick H. Ecker/MetLife Insurance Professor of Marketing and Co-Director of the Risk Management and Decision Processes Center at the Wharton School, University of Pennsylvania.

Erwann O. Michel-Kerjan is a partner at McKinsey & Company. He was formally Executive Director of the Wharton Risk Center.


Target Audience:

This book provides scholars, businesses, civil servants, and the concerned public tools for making more informed decisions and developing long-term strategies for reducing future losses from potentially catastrophic events. This book is also useful for people interested in risk, insurance and emergency management.

 

 
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