Howard Kunreuther

Howard C. Kunreuther is the James G. Dinan Professor; Professor of Decision Sciences and Business and Public Policy at the Wharton School, and codirector of the Wharton Risk Management and Decision Processes Center. He has a longstanding interest in ways that society can better manage lowprobability, highconsequence events related to technological and natural hazards. Professor Kunreuther is a Fellow of the American Association for the Advancement of Science, and a Distinguished Fellow of the Society for Risk Analysis He served on the Intergovernmental Panel on Climate Change (IPCC) as a Coordinating Lead Author for the chapter on “Integrated Risk and Uncertainty Assessment of Climate Change Response Policies” in the 2014 IPCC report, and currently serves on the NAS/NRC Roundtable on Risk, Resilience, and Extreme Events. His recent books include At War with the Weather (with Erwann MichelKerjan) (MIT Press), winner of the KulpWright Book Award from the American Risk and Insurance Association in 2011; Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry (with Mark Pauly and Stacey McMorrow) (Cambridge University Press); and Leadership Dispatches: Chile's Extraordinary Comeback from Disaster (with Michael Useem and Erwann MichelKerjan) (Stanford University Press). Professor Kunreuther received the 2015 Shin Research Excellence Award from the Geneva Association and the International Insurance Society (IIS) in recognition of his outstanding work on the role of publicprivate partnerships in mitigating and managing risks, as summarized in his paper "The Role of Insurance in Reducing Losses from Extreme Events: The Need for Public–Private Partnerships" (Geneva Papers 2015, 40: 714762).

Howard Kunreuther and Luis Ballesteros, “Deciding in the Context of LowProbability Shocks: Biases, Heuristics, and Uncertainty”. In Rethinking Catastrophic Risk: How Corporate America Copes with Disruption, edited by Howard Kunreuther, Erwann MichelKerjan, Michael Useem, (2016),

Luis Ballesteros and Howard Kunreuther, “Organizational Learning from Catastrophes”. In Rethinking Catastrophic Risk: How Corporate America Copes with Disruption, edited by Howard Kunreuther, Erwann MichelKerjan, Michael Useem, (2016),

Howard Kunreuther, Erwann MichelKerjan, Michael Useem, Rethinking Catastrophic Risk: How Corporate America Copes with Disruption (2016)

Howard Kunreuther, Erwann MichelKerjan, Michael Useem, Rethinking Catastrophic Risk: How Corporate America Copes with Disruption (2016)

Howard Kunreuther, Erwann MichelKerjan, Michael Useem, Rethinking Catastrophic Risk: How Corporate America Copes with Disruption (2016)

Howard Kunreuther, How Corporate America deal with Disasters (2016)

Michael Useem and Howard Kunreuther, Leadership Dispatches: Chile's Extraordinary Comeback from Disaster (2015)

Michael Useem, Howard Kunreuther, Erwann MichelKerjan, Leadership Dispatches: Chile's Extraordinary Comeback from Disaster (Stanford University Press) (2015)

Erwann MichelKerjan, Paul A. Raschky, Howard Kunreuther (2015), Corporate Demand for Insurance: New Evidence from the U.S. Terrorism and Property Markets , Journal of Risk and Insurance , DOI: 10.1111/jori.12031.

Erwann MichelKerjan, Jeffrey Czajkowski, Howard Kunreuther (2014), Could Flood Insurance be Privatised in the United States? A Primer, The Geneva Papers on Risk and Insurance . 10.1057

Past Courses

BEPP261 RISK ANALY & ENV MGMT

This course is designed to introduce students to the complexities of making decisions about threats to human health and the environment when people's perceptions of risks and their decisionmaking processes differ from expert views. Recognizing the limitations of individuals in processing information, the course explores the role of techniques such as decision analysis, costbenefit analysis, risk assessment and risk perception in structuring riskmanagement decisions. We will also examine policy tools such as risk communication, incentive systems, third party inspection, insurance and regulation in different problem contexts. The problem contexts for studying the interactions between analysis, perceptions, and communication will include riskinduced stigmatization of products (e.g. alar, British beef), places (e.g. Love Canal), and technologies (e.g. nuclear power); the siting of noxious facilities, radon, managing catastrophic risks including those from terrorism. A course project will enable students to apply the concepts discussed in the course to a concrete problem.

BEPP761 RISK ANALY & ENV MGMT

This course is designed to introduce students to the role of risk assessment, risk perception and risk management in dealing with uncertain health, safety and environmental risks including the threat of terrorism. It explores the role of decision analysis as well as the use of scenarios for dealing with these problems. The course will evaluate the role of policy tools such as risk communicaton, economic incentives, insurance, regulation and privatepublic partnership in developing strategies for managing thse risks. A project will enable students to apply the concepts discussed in the course to a concrete problem. Crosslisted with OPIM 761.

BEPP961 RISK ANALY & ENV MGMT

This course is designed to introduce students to the role of risk assessment, risk perception and risk management in dealing with uncertain health, safety and environmental risks including the threat of terrorism. It explores the role of decision analysis as well as the use of scenarios for dealing with these problems. The course will evaluate the role of policy tools such as risk communication, economic incentives, insurance, regulation and privatepublic partnerships in developing strategies for managing these risks A project will enable students to apply the concepts discussed in the course to a concrete problem.

LGST206 NEGOTIATION/CONFLICT RES

This course examines the art and science of negotiation, with additional emphasis on conflict resolution. Students will engage in a number of simulated negotiations ranging from simple oneissue transactions to multiparty joint ventures. Through these exercises and associated readings, students explore the basic theoretical models of bargaining and have an opportunity to test and improve their negotiation skills.

MGMT291 NEGOTIATIONS

This course includes not only conflict resolution but techniques which help manage and even encourage the valuable aspects of conflict. The central issues of this course deal with understanding the behavior of individuals, groups, and organizations in conflict management situations. The purpose of this course is to understand the theory and processes of negotiations as it is practiced ina variety of settings. The course is designed to be relevant to the broad specturm of problems that are faced by the manager and professional including management of multinationals, ethical issues, and alternative dispute resolutions. Cross listed w/ LGST 206 & OPIM 291.

OIDD261 RISK ANALY & ENV MGMT

OIDD761 RISK ANALY & ENV MGMT

This course is designed to introduce students to the role of risk assessment, risk perception and risk management in dealing with uncertain health, safety and environmental risks including the threat of terrorism. It explores the role of decision analysis as well as the use of scenarios for dealing with these problems. The course will evaluate the role of policy tools such as risk communication, economic incentives, insurance, regulation and privatepublic partnerships in developing strategies for managing these risks. A project will enable students to apply the concepts discussed in the course to a concrete problem. Crosslisted with BPUB 761.

Shin Research Excellence Award, 2015 Description

Awarded by the Geneva Association and the International Insurance Society in recognition of his outstanding work on the role of publicprivate  partnerships in mitigating nd managing risk.

World Economic Forum, Davos, 2007 American Association of the Advancement of Science: AAAS Fellow, 2005 Society for Risk Analysis: Distinguished Achievement Award, 2001 Society for Risk Analysis: Elected Fellow, 1992 Society for Risk Analysis: Outstanding Service Award, 1990 Wharton Graduate Teaching Excellence Award, 1983 Western Electric Fund Award, 1980 Description

(with Paul Schoemaker and Paul Kleindorfer) for the program “Decision Sciences Applied to University Problems.” The award is given annually for outstanding achievements in the area of educational innovation in undergraduate education for business administration.

No easy fix on flood insurance, but experts say options exist to improve program., NPR 03/24/2014 Maintain the Best Features of BiggertWaters, The Hill 03/06/2014 Four Tips for Managing Catastrophic Risk, CNBC 02/14/2014 Disaster relief not flowing to flood victims, Pittsburgh Tribune 10/10/2013 Conservatives can make green choices, Climate News Network 04/29/2013 Rethinking Flood Insurance PostSandy, "Here & Now" WESAFM (NPR, Pittsburgh), 03/08/2013 Description

Interview with Howard Kunreuther on the preliminary report by the commission set up by New York Governor Andrew Cuomo about how to deal with future extreme storms.

“Moral hazard” & Sandy relief: Do federal funds invite disaster?, "Radio Times" National Public Radio 02/26/2013 Description

Critics of federal disaster aid contend that paying for building along the ocean provides an incentive for unsustainable behavior.  Marty MossCoane’s interview with Howard Kunreuther, codirector of the Wharton Risk Management and Decision Processes Center and Scott Gabriel Knowles, Drexel University associate professor of History & Politics.  (Audio.) : http://soundcloud.com/whyypublicmedia/themoralhazardsandyrelief).

Improving Insurance Decision Making, Forbes.com 02/12/2013 Description

Oped by Howard Kunreuther and Mark Pauly, coauthors of Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry.

Climate and Risk Management, The Weather Channel, 01/25/2013 Description

From the World Economic Forum in Davos:  Jim Cantore interviews Howard Kunreuther, Wharton Professor of Operations and Information Management   (video).

Paying for Future Catastrophes, New York Times Sunday Review 11/25/2012 In a networked world, no longer controlling our own destinies, The Washington Post 12/29/2010 What the volcano taught me, Washington Post 05/10/2010 Overcoming our disaster myopia in Haiti, The Washington Post 01/19/2010 “At War with Ourselves”, Risk & Insurance Magazine 09/01/2009 “Focus on Hazards and Climate Change”, Natural Hazards Observer 03/02/2009 “Anticipating risks, averting the worst: 3 steps for natural disaster or corporate calamity”, The Philadelphia Inquirer 12/16/2008 “Flirting with Disaster”, Forbes 02/11/2008 Description

How longterm insurance can help homeowners in hurricane zones save money and protect themselves at the same time.

“What Is the State of U.S. DisasterPreparedness?” A Freakonomics Quorum, New York Times 11/09/2007 Description

Howard Kunreuther was asked by the New York Times’ Freakonomics blogger, Stephen Dubner, to respond to the question,”What Is the State of U.S. DisasterPreparedness?” A Freakonomics Quorum.

“Who Will Pay for the Next Hurricane?”, Radio Station 99.5fm New Orleans 09/07/2007 Description

Howard Kunreuther is interviewed about his New York Times oped, “Who Will Pay for the Next Hurricane?”

“Who Will Pay for the Next Hurricane?”, New York Times 08/25/2007 Description

Howard Kunreuther authored an oped on financing the costs of natural disasters.

SNL Interactive, Q&A: Howard Kunreuther, SNL Financial 07/17/2006 Description

The Risk Center’s Howard Kunreuther is interviewed by Thames Schoenvogel of SNL Financial about the history of the Risk Center and its current Natural Disaster Insurance Project.

Insuring Against Terror, Pennsylvania Gazette 07/01/2005 Description

The Wharton School’s Howard Kunreuther spent four decades studying ways to manage the risks of floods, hurricanes, earthquakes, chemical accidents, and other natural and technological disasters. Then came 9/11, “the ultimate lowprobability event.”

Crisis behavior is a mystery – A new 9/11 study renews focus on why some act and others don’t in an emergency, Philadelphia Inquirer 05/08/2005

Knowledge @ Wharton

• What Ostriches Can Teach Us About Risk, Knowledge @ Wharton 02/07/2017
• The Biggest Risks Facing the World in 2017, Knowledge @ Wharton 01/19/2017
• Insuring Against Disaster: How to Build Better Policies, Knowledge @ Wharton 12/15/2016
• Why the Climate Change Debate Has Cooled Off, Knowledge @ Wharton 07/19/2016
• How Risk Management Can Adapt to an Era of ‘Truly Remarkable’ Change, Knowledge @ Wharton 02/05/2016
• What Have the Past 30 Years Taught Us About Managing Risk?, Knowledge @ Wharton 12/17/2015
• Will the Outcome of the Paris Climate Summit Have Any Teeth?, Knowledge @ Wharton 12/01/2015
• Lessons on Disaster Preparedness from the Nepal Earthquake, Knowledge @ Wharton 04/29/2015
• How Smart Leadership Revived Chile after an Historic Disaster, Knowledge @ Wharton 04/15/2015
• Curbing California’s Drought — One Fiveminute Shower at a Time, Knowledge @ Wharton 04/13/2015
• Are Electronic ‘Back Doors’ Unintentionally Helping Hackers?, Knowledge @ Wharton 12/19/2014
• What Are the Top Five Risks the World Faces in 2014?, Knowledge @ Wharton 01/17/2014
• Why Insurance Is the ‘Most Misunderstood Industry’, Knowledge @ Wharton 12/18/2013
• Lessons in Leadership from the Fukushima Nuclear Disaster, Knowledge @ Wharton 10/03/2013
• A Tale of Two Storms: Rebuilding after the U.S. and Japanese Disasters, Knowledge @ Wharton 10/03/2013
• Energy Efficient Products: Emphasize Value, not Values, Knowledge @ Wharton 09/08/2013
• Tornadoes: ‘A Different Animal’, Knowledge @ Wharton 05/21/2013
• Insurance: The Most Misunderstood Industry, Knowledge @ Wharton 02/13/2013
• Sandy’s Costly Aftermath, Knowledge @ Wharton 10/31/2012
• When Insurance Buyers and Sellers Speak Different Languages, Knowledge @ Wharton 10/23/2012
• A Farewell to Two Business Visionaries, Knowledge @ Wharton 10/10/2012
• Dealing with Natural Disasters, and Beyond, Knowledge @ Wharton 08/01/2012
• In the Wake of Natural Disasters, Knowledge @ Wharton 03/12/2012
• Ten Years After 9/11 — Risk Management in the Era of the Unthinkable, Knowledge @ Wharton 09/09/2011
• Good Night, Irene: Good Morning, Insurance Claims, Knowledge @ Wharton 08/29/2011
• Osama bin Laden: A Victim of His Own Success?, Knowledge @ Wharton 05/04/2011
• China’s Manufacturers Face the Fallout of Japan’s Triple Disasters, Knowledge @ Wharton 04/27/2011
• Chile’s Response to Japan’s Nuclear Crisis, Knowledge @ Wharton 04/19/2011
• U.S. Energy Policy after Japan: If Not Nuclear, Then What?, Knowledge @ Wharton 03/30/2011
• Japan Earthquake: Wharton’s Howard Kunreuther and Erwann MichelKerjan on Crisis Planning, Knowledge @ Wharton 03/23/2011
• Crisis in Japan: What Will the Costs Be?, Knowledge @ Wharton 03/16/2011
• America’s Aging Infrastructure: What to Fix, and Who Will Pay?, Knowledge @ Wharton 11/10/2010
• Energy Efficiency for Business: Catching the Lowhanging Fruit, Preparing for the Future, Knowledge @ Wharton 03/03/2010
• Crisis in Haiti: Where Do We Go from Here?, Knowledge @ Wharton 01/20/2010
• Changes in the Air: What Will Come of the Copenhagen Climate Summit?, Knowledge @ Wharton 12/09/2009
• One War We Shouldn’t Avoid: A New Approach to Reducing the Cost of Future Catastrophes, Knowledge @ Wharton 07/08/2009
• Katrina, 9/11, Global Recession: Moving Beyond Old Thinking about New Risks, Knowledge @ Wharton 02/18/2009
• Ebb without Flow: Water May Be the New Oil in a Thirsty Global Economy, Knowledge @ Wharton 10/01/2008
• Clearing the Air: How Companies Operate in a Climateconscious Era, Knowledge @ Wharton 06/11/2008
• View from Dalian, China: The New Risk Architecture and Our Growing Interdependence, Knowledge @ Wharton 12/12/2007
• When Local Risks Become Global Risks, and How We Can Minimize Them, Knowledge @ Wharton 03/21/2007
• Strategies for Dealing with the Risks of 9/11, Katrina and Other Disasters: A Conversation with Wharton Experts, Knowledge @ Wharton 09/27/2006
• Flexibility in the Face of Disaster: Managing the Risk of Supply Chain Disruption, Knowledge @ Wharton 09/06/2006
• Avian Flu: What to Expect and How Companies Can Prepare for It, Knowledge @ Wharton 03/08/2006
• Delhi in Davos: How India Built its Brand at the World Economic Forum, Knowledge @ Wharton 02/22/2006
• Hurricane Katrina: Important Policy Questions Amid the Devastation and Recovery, Knowledge @ Wharton 01/25/2006
• Picking Up the Pieces from Katrina: What Lies Ahead, Knowledge @ Wharton 11/21/2005
• The Financial Risks of Terrorism: Balancing Public and Private Roles, Knowledge @ Wharton 09/07/2005
• Catastrophe Modeling: A New Approach to Managing Risk, Knowledge @ Wharton 04/06/2005
• In the Tsunami’s Wake: How Best to Respond, Knowledge @ Wharton 01/28/2005