Decision Processes Research

The Wharton Risk Center undertakes a range of research on understanding and improving individual and collective decision-making in
the presence of uncertainty.

Decision Processes

decision processesHow do individuals and organizations make decisions regarding risk?  How can they make more effective decisions? The Center is researching decision processes in areas that include consumer behavior with respect to insurance and protective activities, as well as how industrial firms take steps to prevent low probability product failures and major accidents …
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Advances in consumer technology are transforming every aspect of daily life. Billions of social media posts are shared every day, millennials are glued to their phones, and personal tracking devices (e.g., Fitbits) and AI interfaces (e.g., Alexa and Google home) are becoming a more and more ubiquitous. The Technology and Behavioral Science Initiative supports research designed to explore how these technologies impact our lives…
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Effective Risk Management

Effective corporate governance for catastrophic risk managementLaunched in 2010, the Travelers/Wharton Partnership for Research on Risk Management and Leadership is a research initiative in the areas of risk management and leadership. The project is a joint venture between the Travelers Companies, the Wharton Risk Management and Decision Processes Center and the Wharton Center for Leadership…
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Interdependent Security

interdependent securityIDS games are a recently introduced class of models that captures a wide variety of collective risk and decision-making scenarios that include problems in airline security, corporate governance, computer-network security, supply-chain security, and vaccinations against diseases…
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Chilean Earthquake Leadership Project

chile earthquakeThe Chilean Earthquake Leadership Project of 2012-13 is a collaborative assessment of the lessons learned from Chile’s preparation for and response to the devastating earthquake of February 27, 2010. Undertaken at the request of the President of Chile, the study is focused on Chile’s catastrophe management planning and recovery, and a range of management …

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Near Miss

near missesNear-Misses are small incidents which can help identify and mitigate potential problems and systemic risks. The Near-Miss Project, which started in 2000, initially focused on understanding how such information can help reduce operational risks related to safety, health and environment in chemical industry. Based on over 100 interviews at 20 industrial sites of five Fortune 500 corporations…
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Russel Ackoff Doctoral Student Fellowships

The Russell Ackoff Doctoral Student Fellowship program of the Wharton Risk Management and Decision Processes Center provides grants to University of Pennsylvania Ph.D. students who are pursuing research in decision making under risk and uncertainty.  The research fellowships are named in honor of an endowment provided to the Wharton School by the Anheuser-Busch Charitable Trust…
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