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Whether man-made or naturally occurring, large-scale disasters
can cause fatalities and injuries, devastate property and
communities, savage the environment, impose significant financial
burdens on individuals and firms, and test political leadership.
Moreover, global challenges such as climate change and terrorism
reveal the interdependent and interconnected nature of our current
moment: what occurs in one nation or geographical region is likely
to have effects across the globe. Our information age creates new
and more integrated forms of communication that incur risks that
are difficult to evaluate, let alone anticipate. All of this makes
clear that innovative approaches to assessing and managing risk are
urgently required.
When catastrophic risk management was in its inception thirty
years ago, scientists and engineers would provide estimates of the
probability of specific types of accidents and their potential
consequences. Economists would then propose risk management
policies based on those experts' estimates with little thought as
to how this data would be used by interested parties. Today,
however, the disciplines of finance, geography, history, insurance,
marketing, political science, sociology, and the decision sciences
combine scientific knowledge on risk assessment with a better
appreciation for the importance of improving individual and
collective decision-making processes.
The essays in this volume highlight past research, recent
discoveries, and open questions written by leading thinkers in risk
management and behavioral sciences. The Future of Risk
Management provides scholars, businesses, civil servants, and
the concerned public tools for making more informed decisions and
developing long-term strategies for reducing future losses from
potentially catastrophic events.
Contributors : Mona Ahmadiani, Joshua D. Baker,
W. J. Wouter Botzen, Cary Coglianese, Gregory Colson, Jeffrey
Czajkowski, Nate Dieckmann, Robin Dillon, Baruch Fischhoff, Jeffrey
A. Friedman, Robin Gregory, Robert W. Klein, Carolyn Kousky, Howard
Kunreuther, Craig E. Landry, Barbara Mellers, Robert J. Meyer,
Erwann Michel-Kerjan, Robert Muir-Wood, Mark Pauly, Lisa Robinson,
Adam Rose, Paul J. H. Schoemaker, Paul Slovic, Phil Tetlock, Daniel
Västfjäll, W. Kip Viscusi, Elke U. Weber, Richard Zeckhauser.