 | Acts of God and Man: Ruminations on Risk and Insurance Much has been written about the ups and downs of financial markets, from the lure of prosperity to the despair of crises. Yet a more fundamental and pernicious source of uncertainty exists in today's world: the traditional "insurance" risks of earthquakes, storms, terrorist attacks, and other disasters. Insightfully exploring these "acts of God and man," Michael R. Powers guides readers through the current methods available for identifying and measuring such risks, financing their consequences, and forecasting their future behavior within the limits of science. He concludes with an interdisciplinary investigation into the nature of uncertainty, incorporating ideas from physics, philosophy, and game theory to assess science's limitations in predicting the ramifications of risk. Michael R. Powers is the Zurich Group Professor of Risk Mathematics at Tsinghua University's School of Economics and Management. He currently leads an interdisciplinary research team exploring the impact of cultural attitudes on risk finance. Prior to joining Tsinghua, he was professor of risk management and insurance at Temple University's Fox School of Business. |
