Acts of God and Man : : Ruminations on Risk and Insurance / / Michael Powers.
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, a...
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Place / Publishing House: | New York, NY : : Columbia University Press, , [2011] ©2011 |
Year of Publication: | 2011 |
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Powers, Michael, author. aut http://id.loc.gov/vocabulary/relators/aut Acts of God and Man : Ruminations on Risk and Insurance / Michael Powers. New York, NY : Columbia University Press, [2011] ©2011 1 online resource (304 p.) : 33 line drawings, 22 tables text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Columbia Business School Publishing Frontmatter -- Contents -- Foreword -- Preface -- Acknowledgments -- 1. Living with Risk -- 2. The Realm of Insurance -- 3. Scientific Challenges -- Notes -- Author' Editorials and Other Writings -- Bibliography -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star 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 methods available for identifying and measuring such risks, financing their consequences, and forecasting their future behavior within the limits of science.A distinctive characteristic of earthquakes, hurricanes, bombings, and other insurance risks is that they impact the values of stocks, bonds, commodities, and other market-based financial products, while remaining largely unaffected by or "aloof" from the behavior of markets. Quantifying such risks given limited data is difficult yet crucial for achieving the financing objectives of insurance. Powers begins with a discussion of how risk impacts our lives, health, and possessions and proceeds to introduce the statistical techniques necessary for analyzing these uncertainties. He then considers the experience of risk from the perspectives of both policyholders and insurance companies, and compares their respective responses.The risks inherent in the private insurance industry lead naturally to a discussion of the government's role as both market regulator and potential "insurer of last resort." Following a thoughtful and balanced analysis of these issues, Powers 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. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022) Risk (Insurance). Risk management. BUSINESS & ECONOMICS / Insurance / Risk Assessment & Management. bisacsh Shubik, Martin, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Title is part of eBook package: De Gruyter Columbia University Press eBook-Package Backlist 2000-2013 9783110442472 print 9780231153676 https://doi.org/10.7312/powe15366 https://www.degruyter.com/isbn/9780231527057 Cover https://www.degruyter.com/document/cover/isbn/9780231527057/original |
language |
English |
format |
eBook |
author |
Powers, Michael, Powers, Michael, |
spellingShingle |
Powers, Michael, Powers, Michael, Acts of God and Man : Ruminations on Risk and Insurance / Columbia Business School Publishing Frontmatter -- Contents -- Foreword -- Preface -- Acknowledgments -- 1. Living with Risk -- 2. The Realm of Insurance -- 3. Scientific Challenges -- Notes -- Author' Editorials and Other Writings -- Bibliography -- Index |
author_facet |
Powers, Michael, Powers, Michael, Shubik, Martin, Shubik, Martin, |
author_variant |
m p mp m p mp |
author_role |
VerfasserIn VerfasserIn |
author2 |
Shubik, Martin, Shubik, Martin, |
author2_variant |
m s ms m s ms |
author2_role |
MitwirkendeR MitwirkendeR |
author_sort |
Powers, Michael, |
title |
Acts of God and Man : Ruminations on Risk and Insurance / |
title_sub |
Ruminations on Risk and Insurance / |
title_full |
Acts of God and Man : Ruminations on Risk and Insurance / Michael Powers. |
title_fullStr |
Acts of God and Man : Ruminations on Risk and Insurance / Michael Powers. |
title_full_unstemmed |
Acts of God and Man : Ruminations on Risk and Insurance / Michael Powers. |
title_auth |
Acts of God and Man : Ruminations on Risk and Insurance / |
title_alt |
Frontmatter -- Contents -- Foreword -- Preface -- Acknowledgments -- 1. Living with Risk -- 2. The Realm of Insurance -- 3. Scientific Challenges -- Notes -- Author' Editorials and Other Writings -- Bibliography -- Index |
title_new |
Acts of God and Man : |
title_sort |
acts of god and man : ruminations on risk and insurance / |
series |
Columbia Business School Publishing |
series2 |
Columbia Business School Publishing |
publisher |
Columbia University Press, |
publishDate |
2011 |
physical |
1 online resource (304 p.) : 33 line drawings, 22 tables Issued also in print. |
contents |
Frontmatter -- Contents -- Foreword -- Preface -- Acknowledgments -- 1. Living with Risk -- 2. The Realm of Insurance -- 3. Scientific Challenges -- Notes -- Author' Editorials and Other Writings -- Bibliography -- Index |
isbn |
9780231527057 9783110442472 9780231153676 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG8054 |
callnumber-sort |
HG 48054.5 P69 42012EB |
url |
https://doi.org/10.7312/powe15366 https://www.degruyter.com/isbn/9780231527057 https://www.degruyter.com/document/cover/isbn/9780231527057/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
360 - Social problems & social services |
dewey-ones |
368 - Insurance |
dewey-full |
368 |
dewey-sort |
3368 |
dewey-raw |
368 |
dewey-search |
368 |
doi_str_mv |
10.7312/powe15366 |
oclc_num |
940685321 |
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AT powersmichael actsofgodandmanruminationsonriskandinsurance AT shubikmartin actsofgodandmanruminationsonriskandinsurance |
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hierarchy_parent_title |
Title is part of eBook package: De Gruyter Columbia University Press eBook-Package Backlist 2000-2013 |
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Acts of God and Man : Ruminations on Risk and Insurance / |
container_title |
Title is part of eBook package: De Gruyter Columbia University Press eBook-Package Backlist 2000-2013 |
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