Wharton Risk Management and
Decision Processes Center
For three decades, the Risk Management and Decision Processes Center at the Wharton School of the University of Pennsylvania has been at the forefront of basic and applied research to promote effective corporate and public policies for low-probability events with potentially catastrophic consequences.
What We Do
Understanding and improving individual decision-making in the presence of uncertainty
Researching and evaluating strategies for risk communication, risk reduction, and risk transfer
Engaging decision-makers in designing
effective risk management policies
This summer, researchers from across the University of Pennsylvania are generating new policy-relevant and solution-oriented ideas to tackle climate risks. New solutions will be posted on a continuous basis throughout Summer 2019. Stay tuned in the fall for a synthesis report and events on campus.
In the News
The New York Times
Last fall, the Risk Center convened FEMA staff, along with insurance representatives and state officials, to talk about ways to get more Americans to buy flood insurance. But ideas presented new obstacles, whether practical, legal or political
Los Angeles Times
Op-ed by Carolyn Kousky: “Just as business-as-usual emissions are no longer tenable, neither is business-as-usual disaster policy.”
Risk Center Updates
In this episode of America Adapts, host Doug Parsons interviews Carolyn Kousky, Executive Director of the Risk Center. They discuss a wide range of topics including: California wildfire liability law and needed policy reforms; who owns the legal risks of climate change; disaster aid reform; the dysfunctional nature of flood insurance; and the need to help low income households get access to disaster insurance.
With a growing imperative to develop strategic approaches to managing global political risk, EY and the Risk Center have launched the Wharton Political Risk Lab to explore the relationship between political risk management and corporate performance, and to bring insights on how companies can effectively navigate this volatile global landscape.
Today, many homeowners are uninsured against flood damage. The lack of widespread take-up of flood insurance will not only impose financial strain on families but could have spillover effects in adjoining communities and may trigger foreclosures that hurt lenders. This paper describes the U.S. housing market’s exposure to flood risk and suggests directions for future research and action.
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Wharton Risk Management
and Decision Processes Center
St. Leonard’s Court | Suite 130
3819 Chestnut Street
Philadelphia, PA 19104