2019 CEAR/Huebner Summer Risk Institute

Conference dates

25 Jul 2019 - 26 Jul 2019

Location

Georgia State University, Atlanta, GA

Description

Georgia State University Robinson College of Business’ Center for the Economic Analysis of Risk and the S.S. Huebner Foundation for Insurance Education are pleased to announce the 2019 CEAR/Huebner Summer Risk Institute. The Institute exposes Ph.D. students and interested faculty in risk and uncertainty to relevant cutting-edge models, tools, and theory. Our audience is primarily comprised of faculty and Ph.D. students interested in the economics of risk who are located at colleges and universities that do not have access to specialized seminars and courses in these areas. Lectures are conducted by leading scholars in the fields of risk and uncertainty located at Georgia State University and elsewhere. The institute is sponsored by the Robinson College of Business’ Center for the Economic Analysis of Risk and the S.S. Huebner Foundation for Insurance Education. The Huebner Foundation has supported the CEAR/Huebner Summer Institute for four years.

Date: July 25-26 2019
Location: Georgia State University, Atlanta, GA

-Keynote Speakers-
Robert T. Jensen (Yale)
Christopher B. Barrett (Cornell)

-Guest Speaker-
Glenn Harrison (GSU)

-Industry Speaker-
TBA

-How to Attend-
Registration can be completed through the CEAR webpage: https://cear.gsu.edu/event-archives/2019-cear-huebner-summer-risk-institute/

Interested scholars are welcome to register without cost, space permitting. Limited financial support may be available for interested doctoral students to cover some costs of attendance (e.g., hotel and meals while attending; no airfare or travel assistance is available).

Additional Information

-Robert T. Jensen-
Lecture 1: Income Risk in Low Income Countries
Households in lower income countries face considerable income and consumption risk. This lecture will examine the sources of such risk and the degree of risk that households face. In addition, we will discuss the consequences of this risk beyond welfare levels, including the effects on human capital and conflict.

Lecture 2: Information, Decision-Making and Efficiency
Information is critical for the efficient functioning of markets. For example, important results such as the First Fundamental Theorem of Welfare Economics and the Law of One Price rely on the assumption that agents have the necessary information to make optimal decisions. Yet the information available to agents is often limited, costly or inaccurate. This lecture will discuss core results in the economics of information and provide examples on the effects of information on market performance and welfare from a range of markets in low income countries. Finally, we will discuss strategies and policies for addressing imperfect information.

-Chris Barrett-
Lecture 1: Conceptualizing and Measuring Resilience
The development and humanitarian community has rapidly embraced 'resilience' as an organizing theme for much programming in risk-prone regions of the world. How can the term be used in theory-based and empirically-implementable way? Drawing especially on Barrett & Constas (PNAS 2014), Upton, Cissé & Barrett (Ag Econ 2016), and Cissé & Barrett (JDE 2018), this lecture will outline a theory and associated econometric method for conceptualizing and measuring resilience, and explain how the output can be used for impact evaluation and targeting of projects or programs.

Lecture 2: “Index-Based Livestock Insurance: The why, how, and positive impacts of an imperfect product”
A consortium of researchers and commercial insurers designed and piloted a novel index-based livestock insurance (IBLI) product in 2010 in Marsabit County in northern Kenya. Although the product has proved quite imperfect, it subsequently won international awards, has been adapted and scaled up to cover virtually all of the arid and semi-arid lands of Kenya under the government-sponsored Kenya Livestock Insurance Program, scaled out to an IBLI product available in Ethiopia as well as a sharia-compliant version available in Muslim areas of Kenya, and further adaptation and expansion is under discussion for other drylands regions. This lecture will explain the motivation for, design of, demand for, and impact evaluations of IBLI to date, drawing on a range of published papers.