The Irrational Economist: Making decisions In A Dangerous World by Erwann Michel‐Kerjan and Paul Slovic (eds.)

Pieterman, Roel

doi:10.1111/j.1468-5973.2010.00622.x

Cited by 3 publications

(2 citation statements)

References 1 publication

Supporting

Mentioning

Contrasting

Order By: Relevance

“…On the contrary, it highlights the relevance of public perception for disaster risk reduction strategies. The predisposition to fear certain types of risks often pushes the public to take action and demand public interventions toward specific threats (Sunstein 2005, 100;Vogel 2012) while disregarding others (Michel-Kerjan and Slovic 2010). In this context, scientific evidence (where available) intersects with irrational images, as shown by the social stigma attached to the Black Death epidemic of the fourteenth century and the ongoing acquired immunodeficiency syndrome (AIDS) epidemic.…”

Section: A Risk Governance Perspectivementioning

confidence: 99%

Don’t Call It a Failure: Systemic Risk Governance for Complex Financial Systems

Castellano

2024

Law Soc. Inq.

View full text Add to dashboard Cite

The probability that an event will avalanche into an impairment of essential services constitutes a “systemic risk.” Owing to the inherent complexities of modern societies, the outbreak of a novel disease or the failure of a financial institution can rapidly escalate into an impact significantly larger than the initial event. Through the lens of complex system theory, this article draws a parallel between financial crises and disasters to contend that the regulatory framework for financial systemic risk is unequipped to address its fundamental dynamics. Epitomized by the market failure rationale, financial regulation is premised on a reductionist view that purports both systemic risk and law as external to the actions of market participants. Conversely, this article advances a twofold conceptual framework. First, it shows that systemic risk emerges from the same complex dynamics that generate the financial system. Second, it understands law as an agent of complexity, thus contributing to the emergence of finance and its inherent instability. Normatively, this conceptual framework reveals the limits of current regulatory approaches and constructs a holistic risk governance framework that is akin to the one adopted to govern disaster risks.

show abstract

Section: A Risk Governance Perspectivementioning

confidence: 99%

Don’t Call It a Failure: Systemic Risk Governance for Complex Financial Systems

Castellano

2024

Law Soc. Inq.

View full text Add to dashboard Cite

show abstract

“…Notably, a growing segment of the research community is turning to behavioral economics to understand systematic deviations from economic predictions of adaptation (Gowdy, 2008). This entails testing the underlying theories experimentally in an applied setting (Pieterman, 2010), i.e., testing risk perception biases and their corrective measures in a climate change adaptation context. Such testing requires effective frameworks that can ensure a simple and efficient experiment design, program implementation and data collection.…”

Section: Introductionmentioning

confidence: 99%

Ready-made oTree applications for the study of climate change adaptation behavior

Bülow

Liu

2020

Journal of Behavioral and Experimental Economics

View full text Add to dashboard Cite

Impact of Behavioral Issues on Green Growth Policies and Weather-Related Disaster Reduction in Developing Countries

Kunreuther¹,

Michel-Kerjan²

2012

Policy Research Working Papers

View full text Add to dashboard Cite

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

show abstract

The Irrational Economist: Making decisions In A Dangerous World by Erwann Michel‐Kerjan and Paul Slovic (eds.)

Cited by 3 publications

References 1 publication

Don’t Call It a Failure: Systemic Risk Governance for Complex Financial Systems

Don’t Call It a Failure: Systemic Risk Governance for Complex Financial Systems

Ready-made oTree applications for the study of climate change adaptation behavior

Impact of Behavioral Issues on Green Growth Policies and Weather-Related Disaster Reduction in Developing Countries

Contact Info

Product

Resources

About