Michael R. Powers is the Zurich Group Professor of Risk Mathematics
at Tsinghua University’s School of Economics and Management. A 2011
recipient of China’s Qian Ren Ji Hua award,
he holds a joint appointment at Tsinghua
University’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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