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
Howard Kunreuther and Michael Useem
Provides important lessons for decision makers at all levels to reduce the likelihood and curtail the costs — human, financial, and reputational — of large-scale disruptions.
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
By Howard Kunreuther, Susan Wachter, Carolyn Kousky and Michael LaCour-Little.
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.
The article by Jeffrey Czajkowski, Kevin Simmons and James Done has been selected to receive the RMIR Award for Best Article by the American Risk and Insurance Association (ARIA). This award is selected by a committee, chaired by Dr. Joan Schmit, which reviews all the articles published in the prior calendar year (2017) in ARIA’s Risk Management and Insurance Review.
Carolyn Kousky is speaking at a roundtable, “Living with Water: The Future of Flood Insurance in Pennsylvania” in Harrisburg, PA on August 27, 2018. The event is open to the public.
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Wharton Risk Management
and Decision Processes Center
St. Leonard’s Court | Suite 130
3819 Chestnut Street
Philadelphia, PA 19104