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
Doctoral students throughout Penn engaged in on-going research related decision making under risk and uncertainty are encouraged to apply.
In the News
Wall Street Journal
“After superstorm Sandy hit the northeast in 2012, 8% of firms affected by the storm borrowed money from the agency’s disaster-lending program, according to a 2016 study by the University of Pennsylvania’s Wharton School and the Federal Reserve Bank of New York…”
Risk Center Updates
A new book from Cambridge University Press, Policy Shock, has just been released. Carolyn Kousky, Director for Policy Research and Engagement, wrote a chapter titled Revised Risk Assessments and Insurance Industry. The chapter addresses two questions: (1) What types of events lead the (re)insurance industry to update risk assessments? (2) How do companies, consumers, and the government respond to updated risk assessments?
Jeff Czajkowski recently spoke at the Willis Research Network Autumn Seminar held in London. In the wake of the 2017 events impacting the U.S., the seminar’s aim was to present findings from some of the WRN’s latest scientific collaborations, alongside current analytical projects underway by Willis Re teams around the world, with an emphasis on impacts of the latest extreme weather events. Dr. Czajkowski presented the ongoing WRN supported Wharton Risk Center research focused on tropical cyclone claims analysis between freshwater and surge claims.
On November 8th, the Federal Emergency Management Agency (FEMA) Resilient Nation Partnership Network’s 2017 Annual Forum was held in Washington, D.C. Katherine Greig, Carolyn Kousky, and Brett Lingle ran break-out sessions introducing the new Policy Incubator and soliciting attendees’ views on the research priorities for improving household and community resilience to worsening extreme events, as well as how to build effective partnerships with the public sector.
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Wharton Risk Management
and Decision Processes Center
St. Leonard’s Court | Suite 130
3819 Chestnut Street
Philadelphia, PA 19104