The United States and other nations are facing large-scale risks at an accelerating rhythm. In 2005, three major hurricanes--Katrina, Rita, and Wilma--made landfall along the U.S. Gulf Coast within a six-week period. The damage caused by these storms led to insurance reimbursements and federal disas[...]

This book examines the behavior of individuals at risk and insurance industry decision makers involved in selling, buying and regulation. It compares their actions to those predicted by benchmark models of choice derived from classical economic theory. Where actual choices stray from predictions, th[...]