Howard Kunreuther

Wharton Risk Management
and Decision Processes Center
The Wharton School
University of Pennsylvania
3819 Chestnut Street, Suite 330
Philadelphia, PA 19104-6366
Tel: 215/898-4589
Fax: 215/573-2130

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Affiliation: Research Associate
Institutional Affiliation: University of Pennsylvania

NBER Working Papers and Publications

June 2020Default Options and Insurance Demand
with Peter John Robinson, W.J. Wouter Botzen, Shereen J. Chaudhry: w27381
Broad Bracketing for Low Probability Events
with Shereen J. Chaudhry, Michael Hand: w27319
May 2020Covid-19, Shelter-In Place Strategies and Tipping
with Zhihan Cui, Geoffrey Heal: w27124
April 2020Do People Have a Bias for Low-Deductible Insurance?
with Mark Pauly: w26994
August 2018Organizational Decision Making Under Uncertainty Shocks
with Luis Ballesteros: w24924
May 2018The Critical Role of Markets in Climate Change Adaptation
with Sarah E. Anderson, Terry L. Anderson, Alice C. Hill, Matthew E. Kahn, Gary D. Libecap, Hari Mantripragada, Pierre Mérel, Andrew Plantinga, V. Kerry Smith: w24645

Published: Sarah E. Anderson & Terry L. Anderson & Alice C. Hill & Matthew E. Kahn & Howard Kunreuther & Gary D. Libecap & Hari Mantripragada & Pierre Mérel & Andrew J. Plantinga & V. Kerry Smith, 2019. "The Critical Role Of Markets In Climate Change Adaptation," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 1-17, February. citation courtesy of

July 2017Risk Preferences in Small and Large Stakes: Evidence from Insurance Contract Decisions
with Benjamin L. Collier, Daniel Schwartz, Erwann O. Michel-Kerjan: w23579
September 2016Firms’ Management of Infrequent Shocks
with Benjamin L. Collier, Andrew F. Haughwout, Erwann O. Michel-Kerjan, Michael A. Stewart: w22612

Published: BENJAMIN L. COLLIER & ANDREW F. HAUGHWOUT & HOWARD C. KUNREUTHER & ERWANN O. MICHEL‐KERJAN, 2020. "Firms’ Management of Infrequent Shocks," Journal of Money, Credit and Banking, vol 52(6), pages 1329-1359.

January 2015Insurance Decision-Making For Rare Events: The Role Of Emotions
with Mark Pauly: w20886

Published: Howard Kunreuther & Mark V. Pauly, 2018. "Dynamic Insurance Decision-Making for Rare Events: The Role of Emotions," The Geneva Papers on Risk and Insurance - Issues and Practice, vol 43(2), pages 335-355.

January 2014Aiding Decision-Making to Reduce the Impacts of Climate Change
with Elke U. Weber: w19776

Published: Howard Kunreuther & Elke U. Weber, 2014. "Aiding Decision Making to Reduce the Impacts of Climate Change," Journal of Consumer Policy, vol 37(3), pages 397-411.

October 2013Corporate Demand for Insurance: New Evidence from the U.S. Terrorism and Property Markets
with Erwann Michel-Kerjan, Paul Raschky: w19532

Published: Erwann Michel-Kerjan & Paul Raschky & Howard Kunreuther, 2015. "Corporate Demand for Insurance: New Evidence From the U.S. Terrorism and Property Markets," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 82(3), pages 505-530, 09. citation courtesy of

December 2012Risk Management and Climate Change
with Geoffrey Heal, Myles Allen, Ottmar Edenhofer, Christopher B. Field, Gary Yohe: w18607

Published: Nature Climate Change | Perspective Print Share/bookmark Risk management and climate change Howard Kunreuther, Geoffrey Heal, Myles Allen, Ottmar Edenhofer, Christopher B. Field & Gary Yohe Affiliations Contributions Corresponding author Nature Climate Change 3, 447–450 (2013) doi:10.1038/nclimate1740 Received 29 June 2012 Accepted 09 October 2012 Published online 24 March 2013

October 2012Punishment and Cooperation in Stochastic Social Dilemmas
with Erte Xiao: w18458

Published: E. Xiao & H. Kunreuther, 2016. "Punishment and Cooperation in Stochastic Social Dilemmas," Journal of Conflict Resolution, vol 60(4), pages 670-693. citation courtesy of

June 2012Managing Catastrophic Risk
with Geoffrey Heal: w18136

Published: "Managing Catastrophic Risk" (with Geoffrey Heal). Encyclopedia of Energy, Natural Resources and Environmental Economics (ed.) J. Shogren, Elsevier, Vol. 3, pp 52-59 2013.

September 2011Corporate Demand for Insurance: An Empirical Analysis of the U.S. Market for Catastrophe and Non-Catastrophe Risks
with Erwann Michel-Kerjan, Paul Raschky: w17403
April 2011Tipping Climate Negotiations
with Geoffrey Heal: w16954

Published: “Tipping Climate Negotiations” (with Geoffrey Heal). In: Climate Change and Common Sense: Essays in Honour of Tom Schelling. R. Hahn and A. Ulph (eds.) Oxford University Press (2012).

March 2011Catastrophe Risk
NBER Reporter 2011 number 1
February 2010Environment and Energy: Catastrophic Liabilities from Nuclear Power Plants
with Geoffrey Heal
in Measuring and Managing Federal Financial Risk, Deborah Lucas, editor
June 2009Risk-Based Pricing and Risk-Reducing Effort: Does the Private Insurance Market Reduce Environmental Accidents?
with Haitao Yin, Matthew White: w15100

Published: “Risk-Based Pricing and Risk-Reducing Effort: Does the Private Insurance Market Reduce Environmental Accidents?” (with Haitao Yin and Matthew White), Journal of Law & Economics, Vol. 54, No. 2 (May 2011), pp. 325-363

August 2008Long Term Insurance (LTI) for Addressing Catastrophe Risk
with Dwight Jaffee, Erwann Michel-Kerjan: w14210
November 2007Social Reinforcement: Cascades, Entrapment and Tipping
with Geoffrey Heal: w13579

Published: Geoffrey Heal & Howard Kunreuther, 2010. "Social Reinforcement: Cascades, Entrapment, and Tipping," American Economic Journal: Microeconomics, American Economic Association, vol. 2(1), pages 86-99, February. citation courtesy of

October 2007Evaluating The Effectiveness of Terrorism Risk Financing Solutions
with Erwann O. Michel-Kerjan: w13359
August 2007Deterministic and Stochastic Prisoner's Dilemma Games: Experiments in Interdependent Security
with Gabriel Silvasi, Eric T. Bradlow, Dylan Small: t0341
January 2007Climate Change, Insurability of Large-scale Disasters and the Emerging Liability Challenge
with Erwann O. Michel-Kerjan: w12821
Self-Protection and Insurance with Interdependencies
with Alexander Muermann: w12827

Published: Alexander Muermann & Howard Kunreuther, 2008. "Self-protection and insurance with interdependencies," Journal of Risk and Uncertainty, Springer, vol. 36(2), pages 103-123, April.

August 2006Rules Rather Than Discretion: Lessons from Hurricane Katrina
with Mark Pauly: w12503

Published: Howard Kunreuther & Mark Pauly, 2006. "Rules rather than discretion: Lessons from Hurricane Katrina," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 101-116, September.

Reflections on U.S. Disaster Insurance Policy for the 21st Century
Goals and Plans in Protective Decision Making
with David H. Krantz: w12446
June 2006Supermodularity and Tipping
with Geoffrey Heal: w12281
March 2006Looking Beyond TRIA: A Clinical Examination of Potential Terrorism Loss Sharing
with Erwann Michel-Kerjan: w12069

Published: Auerswald, Philip E., Lewis M. Branscomb, Todd M. La Porte, and Erwann O. Michel-Kerjan (eds.) Seeds of Disaster, Roots of Response: How Private Action Can Reduce Public Vulnerability. Cambridge and New York: Cambridge University Press, 2006.

November 2004Policy Watch: Challenges for Terrorism Risk Insurance in the United States
with Erwann Michel-Kerjan: w10870

Published: Kunreuther, Howard and Erwann Michel-Kerjan. "Challenges For Terrorism Risk Insurance In The United States," Journal of Economic Perspectives, 2004, v18(4,Fall), 201-214. citation courtesy of

August 2004Interdependent Security: A General Model
with Geoffrey Heal: w10706
December 2003Assessing, Managing, and Financing Extreme Events: Dealing with Terrorism
with Erwann Michel-Kerjan, Beverly Porter: w10179
August 2003You Only Die Once: Managing Discrete Interdependent Risks
with Geoffrey Heal: w9885

Published: Richardson, H.W., P. Gordon and J.E. Moore II (eds.) The Economic Impacts of Terrorist Attacks. Cheltenham, UK: Edward Elgar, 2005.

April 2002Interdependent Security: The Case of Identical Agents
with Geoffrey Heal: w8871

Published: Kunreuther, Howard and Geoffrey Heal. "Interdependent Security: the case of identical agents." Journal of Risk and Uncertainty 2003.

January 1999Challenges Facing the Insurance Industry in Managing Catastrophic Risks
with Paul Kleindorfer
in The Financing of Catastrophe Risk, Kenneth A. Froot, editor
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