R. Powers is the Zurich Insurance Group Chair Professor at Tsinghua University’s School of Economics and
Management. He also holds a dual appointment as professor of economics and business at Tsinghua’s Schwarzman
College. In 2013, he won the Kulp-Wright Book Award for Acts of God and Man: Ruminations on Risk and Insurance
(2012, Columbia University Press), in which he proposes a science of risk based upon:
- a fundamentalist Bayesian (i.e.,
subjective/judgmental) approach to modeling uncertainty and assessing probabilities;
- a formal distinction between the aloof risks of
insurance and the non-aloof risks of other financial markets; and
- a personalized scientific method emphasizing the
importance of randomized controlled studies, mathematical and game-theoretic modeling, and statistical simulation.
Toward a Science of Risk . . .
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