CEAR/Huebner Summer Risk Institute aims to expose Ph.D. students and faculty interested in risk and uncertainty to relevant cutting-edge models, tools, and theory. The targeted audience includes faculty and Ph.D. students interested in the economics of risk but who are located at colleges and universities that do not have access to specialized Ph.D. seminars courses covering the most recent research advances in these areas. The institute consists of lectures given by leading scholars in the fields of risk and uncertainty.
The fourth annual institute will be held July 25 to July 26, 2017 in Atlanta. The institute is sponsored by Georgia State University’s Center for the Economic Analysis of Risk (CEAR, cear.gsu.edu) and the S.S. Huebner Foundation for Insurance Education.
Levon Barseghyan (Cornell University)
“Estimating Risk Preferences using Market Data: Challenges and New Methods”
July 25-July 26; 10:00am-12:00pm
Damir Filipović (Ecole Polytechnique Fédérale de Lausanne & Swiss Finance Institute)
“Polynomial Models in Finance”
July 25-July 26; 1:00pm-3:00pm
Christian Gollier (Toulouse School of Economics)
“Aversion to risk of regret and preference for positively skewed risks”
July 26; 3:15pm-4:30pm
Further Information and additional background information can be accessed at Georgia State University’s Department of Risk Management and Insurance.
Prospect theory, as originally developed and subsequently refined by Kahneman and Tversky, is widely regarded as the most sophisticated theoretical achievement of behavioral economics. Its great importance, especially with respect to the concepts it introduced, is beyond serious dispute. However, like any major scientific model, it is vulnerable to being interpreted as dogma, as a statement of truth that can be used as an argument-stopper and as a basis for sweeping rejection of perspectives with which it is in tension. Empirical investigations of prospect theory, both in its original (1979) articulation and its ‘cumulative’ (1992) version that accommodates econometric identification and estimation, are equivocal in their results, certainly more interesting than straightforward ‘confirmation’ or ‘refutation’. Additionally, important questions about prospect theory’s completeness or adequacy as a descriptive theory of choice under risk and uncertainty spill over into problems of normative assessment, about welfare and well-being, raised by behavioral and experimental economics. At a time when more and more governments and companies are adopting policies and strategies based on their interpretations of results from behavioral economics, joint assessment of prospect theory’s descriptive and normative authority is directly relevant to management of institutional, political, environmental, and personal risk. In this workshop we will bring together economists and philosophers to critically review the empirical status of prospect theory, in both original and cumulative forms, along with the implications of this status for public, corporate and household policies.
Glenn Harrison (CEAR, Georgia State University), and Don Ross (University College Cork, University of Cape Town, and CEAR) are the organizers of this workshop. Funding is being provided by CEAR: see cear.gsu.edu for more information. Standard travel and accommodation support for paper presenters will be provided. Should you have questions, please contact Professor Don Ross at email@example.com about the substance of the workshop, and contact Mark Schneider firstname.lastname@example.org with questions about participation and logistics.
Dates & Times
Monday, October 16, 2017 – 08:55 to 18:00. Refreshments and lunch will be provided.
Monday, October 16, 2017 – 20:00 – Dinner for invited guests.
Tuesday, October 17, 2017 – 10:00 to 17:00. Refreshments and lunch will be provided.
Contact Mark Schneider at email@example.com should you have any dietary restrictions or special needs.
The workshop will be held at University College Cork, Republic of Ireland: http://www.ucc.ie/en/. Presenters will be accommodated at Hayfield Manor Hotel, http://www.hayfieldmanor.ie, Cork’s 5-star hotel that embodies the ambient charm and historical depth of Ireland’s special culture.
Cork is the Irish Republic’s second city, European headquarters of Apple and other major companies, and famous for traditional artisanal foods, Murphy’s and Beamish stout ales, and historic architecture. http://www.irishexaminer.com/lifestyle/travel/hidden-gems-the-best-things-to-do-in-cork-332551.html
Cork Airport is directly served from various airports in the United Kingdom, plus Amsterdam, Paris, Munich, and Reykjavik. Iceland’s WOW airline connects Cork to various North American destinations via Reykjavik. All major airline hubs abroad are connected to Dublin Airport, from which Cork is reached under 3 hours by overland shuttles.
CEAR is excited to co-sponsor this year’s 13th International Microinsurance Conference 2017 hosted by Munich Re Foundation. CEAR is facilitating the Academic Track of the conference as well as hosting the Pre-conference Seminar on recent developments in research methods to understand risk management choices of the poor.
You can submit proposals and draft papers for the Conference through the website below – please note that the deadline for submissions is May 15, 2017.