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Reasoning about extreme events : a review of behavioural biases in relation to catastrophe risks.

Vasiljevic, Milica and Weick, Mario and Taylor-Gooby, Peter and Abrams, Dominic and Hopthrow, Tim (2013) 'Reasoning about extreme events : a review of behavioural biases in relation to catastrophe risks.', Project Report. Lighthill Risk Network.

Abstract

The present report outlines behavioural biases studied in the literature in relation to the way people reason about and respond to catastrophe risks. The project is led by the Lighthill Risk Network, in collaboration with a team of social and behavioural researchers from the University of Kent. The aim of this report is to increase awareness of selected behavioural risks, and to highlight ways how biases can affect insurance purchases and underwriting decisions. The report focuses on catastrophe risk as a priority area for the insurance industry, and because catastrophe risks have been more widely studied in the literature than other types of risk.

Item Type:Monograph (Project Report)
Full text:(VoR) Version of Record
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Status:Public
Publisher Web site:https://lighthillrisknetwork.org/
Date accepted:No date available
Date deposited:19 September 2018
Date of first online publication:March 2013
Date first made open access:07 September 2020

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