Explaining the Failure to Insure Catastrophic Risks
نویسندگان
چکیده
منابع مشابه
Catastrophic Risks
Catastrophic risks are rare events with major consequences, e.g. catastrophic climate change or extinction of a species. The article summarizes decision theory involving catastrophic risks within Von Neumanns axiomatic theory of choice under uncertainty, and within new extensions of the theory that are speci cally designed for rare events of major consequences. The classic expected utility the...
متن کاملAsteroids: Assessing Catastrophic Risks
We evaluate two risk profiles: i global warming risks and ii collisions with asteroids that can cause the extinction of our species. The expected values computed for these two risks suggest that no action will be taken to avoid extinction. The result is somewhat counterintuitive, but it is typical of the results of using classic decision theory to evaluate catastrophic risks in the distant futu...
متن کاملReducing Global Catastrophic Biological Risks
Reducing global catastrophic risks (GCRs) is one of our top priorities at the Open Philanthropy Project. We have a particular interest in addressing GCRs from biological sources—or global catastrophic biological risks (GCBRs), to use the term coined by the Johns Hopkins Center for Health Security. As we build our new biosecurity and pandemic preparedness (BPP) program, we’re putting a lot of th...
متن کاملThe Challenge of Global Catastrophic Biological Risks
Global catastrophic biological risks (GCBRs) are defined by the Johns Hopkins Center for Health Security as biological events—deliberate, accidental, or emerging—that ‘‘could lead to sudden, extraordinary, widespread disaster.’’ There are a number of efforts to create a framework within which we can begin to address the almost incomprehensible consequences of these kinds of events. GCBRs compri...
متن کاملIncidental Bequests: Bequest Motives and the Choice to Self-Insure Late-Life Risks∗
Retirees face significant uncertainty about how long they will live and, in many countries, how much costly health care they will require. Yet few buy life annuities or long-term care insurance to insure these risks. Low rates of long-term care insurance coverage are often interpreted as evidence against the importance of bequest motives since failing to buy insurance exposes bequests to signif...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Geneva Papers on Risk and Insurance - Issues and Practice
سال: 2012
ISSN: 1018-5895,1468-0440
DOI: 10.1057/gpp.2012.14