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Huebner Summer Risk Institute, 25-26 July 2017, Georgia State University, USA

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CEAR/Huebner Summer Risk Institute

The CEAR/Huebner Summer Risk Institute exposes Ph.D. students and interested faculty in risk and uncertainty to relevant cutting-edge models, tools, and theory. Our audience is primarily comprised of faculty and Ph.D. students interested in the economics of risk who are located at colleges and universities that do not have access to specialized seminars and courses in these areas. Lectures are conducted by leading scholars in the fields of risk and uncertainty located at Georgia State University and elsewhere.

Sponsors and Funding

The institute is sponsored by Georgia State University’s Center for the Economic Analysis of Risk (CEAR) and the S.S. Huebner Foundation for Insurance Education., located in the J. Mack Robinson College of Business at Georgia State University.

Location

The workshop will be held in the CEAR Seminar Room, which is located on the 11th floor of the J. Mack Robinson College of Business at Georgia State University. Please use the street level entrance on Broad Street.

The fourth annual CEAR/Huebner Summer Risk Institute will be held July 25-26, 2017 in Atlanta. The institute is sponsored by Georgia State University’s Center for the Economic Analysis of Risk (CEAR) and the S.S. Huebner Foundation for Insurance Education.

WHEN

July 25-26, 2017

WHERE

Georgia State University
CEAR Seminar Room
35 Broad St, 11th floor (#1121)
Atlanta, GA 30303

HOW TO ATTEND

Interested scholars are welcome to register without cost, space permitting. Limited financial support may be available for interested doctoral students to cover some costs of attendance (e.g. hotel and meals while attending, no airfare or travel assistance is available).

CONTACT US

Program Questions
Stephen Shore
sshore@gsu.edu
Participation and Logistics Questions
cear@gsu.edu

LECTURERS

Levon Barseghyan (Cornell University, Department of Economics)

Topic: Estimating Risk Preferences Using Market Data: Challenges and New Methods

Abstract: We start by briefly reviewing a number of models of risk preferences including both expected utility (EU) theory and prominent non-EU models that have been estimated using field data. We then study how and when such models can be (separately) identified. In particular, we examine the role of various assumptions about underlying fundamentals in driving identification and assess how these assumptions affect inference. We then detail easy-to-implement partial identification methods that build on revealed preference argument to conduct inference at the individual level. In particular, these methods allow us to (i) classify households into various decision types (e.g. EU versus non-EU); (ii) measure how well a given model of risk preferences fits observed patterns of choices and recover its parameterizations that best fit the data; and (iii) investigate potential sources for sub-optimal behavior (such as choices of dominating options). We conclude by discussing state-of-the-art identification and inference techniques for a general model that features (i) different preference types, (ii) unobserved heterogeneity in risk attitudes within types, and (iii) unobserved heterogeneity in attention levels, whereby each market participant may pay attention only to a subset of options available to her.


Damir Filipović (Swiss Finance Institute & Ecole Polytechnique Fédérale de Lausanne)

Topic: Polynomial Jump-Diffusion Models

Christian Gollier (Toulouse School of Economics)

Topic: Aversion to risk of regret and preference for positively skewed risks

For more information please click "Further Official Information" below the announcement.

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