Wharton Risk Management and
Decision Processes Center
The Wharton Risk Management and Decision Processes Center, established in 1985, is a research center affiliated with the Wharton School at the University of Pennsylvania. Engaging students and faculty throughout the University in collaborations, research projects, and other partnerships, the Center is recognized worldwide as a leader in risk-related research and policy analysis. The Risk Center also serves as a bridge between scholars at Penn and organizations and decision-makers in the public and private sectors.
The world now struggles to halt the spread of the novel coronavirus and the impacts are rippling through the global economy. Sound risk management is more important than ever. At the Wharton Risk Center, we engage with our partners to meaningfully support management of evolving threats, such as this one.
Risk Center resources and contributions from our scholars will be added to the site as made available. See the resources here.
Introducing our five new Research Labs!
Through these Labs, the Wharton Risk Center is continuing its core work in areas like risk communication and disaster management, expanding into new arenas, such as political risk, and also deepening our ongoing research in areas of global significance, such as climate change and terrorism.
DEADLINE EXTENDED TO APRIL 15TH
Do you have ideas for addressing climate challenges? We’d love to hear about things students can do, that Penn can do, or that our broader communities and our country can do! As we approach the 50th anniversary of Earth Day with a looming climate crisis, we invite students from across the university (any school, department, or program) to submit their own solution-oriented ideas that focus on tackling climate change problems at any level or scale.
We’re pleased to share our 2019 annual report. You will find details of our five new Research Labs and highlights of outreach and engagement activities, news items, publications and conferences, as well as a directory of staff, faculty, and research fellows associated with the Risk Center.
Over the summer, researchers across the University of Pennsylvania proposed a total of 30 solutions to climate risks. Researchers from across multiple schools, departments, and research centers at the university are represented, highlighting the interdisciplinary nature of this project. A synthesis report can be found here.
For larger scale disaster events, there are several federal assistance programs that are typically activated to support recovery. Unfortunately, these programs fail to provide needed assistance to the most vulnerable people. What policy changes need to be made to support effective recovery for low income households?
In the News
Howard Kunreuther, and Risk Center Senior Fellow, Paul Slovic, compare the challenges of the coronavirus with those of climate change. “As with the coronavirus, we need to anticipate the climate crisis and act quickly and aggressively to minimize further damages before they overwhelm us.”
Op-Ed by Carolyn Kousky: “While insurance typically provides financial assistance in response to a damaging event, innovative risk transfer solutions are now starting to be used to actually prevent a disaster or to halt cascading impacts in the economy.”
The Philadelphia Citizen
Ben Keys, Wharton Professor and Senior Fellow at the Risk Center is interviewed by The Philadelphia Citizen about the financial implications of COVID-19. “Policymakers need to communicate that any early efforts to keep the economy afloat are merely the start of their response, and be proactive about revisiting the size and scope of fiscal stimulus as this catastrophe plays out.”
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Wharton Risk Management
and Decision Processes Center
St. Leonard’s Court | Suite 130
3819 Chestnut Street
Philadelphia, PA 19104