How 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 and to cope with them when they do occur.
The Center’s Russell Ackoff Doctoral Student Award for Research on Human Decision Processes helps foster student research in decision processes at Penn.
Center research projects dealing with decision processes:
- The Good Judgment Project
In mid-2011, five teams began participating in a U.S.-government-sponsored forecasting tournament. Each team developed its own tools for harnessing and improving collective intelligence, with the goal of predicting major trends and events around the world.
- Decision Processes at Penn
- Video: Thinking, Fast and Slow (Howard Kunreuther and Daniel Kahneman at the World Economic Forum in Davos, Switzerland, January 2013)