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Event
Title:
DEALING WITH LOW PROBABILITY-HIGH CONSEQUENCE EVENTS: A BEHAVIORAL ECONOMICS OF RISK PRESENTATION |
| Date:
9/24/2008
- 9/24/2008 |
| What are the odds that a tsunami hit the coast of a South Asian country? What are the chances that a mudslide fall on a village in Nicaragua this year? These are the types of questions that risk behavior specialists study every day. In the lecture Dealing with Low Probability-High Consequence Events: A Behavioral Economics of Risk Presentation, World Bank Senior Vice President and Chief Economist Justin Lin introduces Senior Scholar at the Woodrow Wilson School of Public and International Affairs of Princeton University, Daniel Kahneman and Professor of Decision Sciences and Public Policy of the Wharton School, Howard Kunreuther to discuss human behavioral patterns in undertaking mitigation strategies to assess these types of risks . They discussed the role of behavioral economics, using a real-time experiment on the findings of the behavioral economics of risk as applied to natural disasters. The event was moderated by Apurva Sanghi, Senior Economist of the Global Facility for Disaster Reduction and Recovery of the World Bank. |
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