Risk Communication

The exchange of information about the probability and consequences of adverse events, and how these risks are perceived and managed.

Insurance Decision-Making For Rare Events: The Role Of Emotions

Jan. 16, 2015

Howard Kunreuther, Mark Pauly

In a NBER working paper, Howard Kunreuther and Mark Pauly analyze an individual’s decision to purchase insurance when given information about “low-probability high-consequence” events such as a hurricane. The authors conducted a web-based multi-period insurance purchasing experiment. Participants were told the probability and resulting losses of a hurricane occurring and were informed that these were stable from period to period. The authors contrast the model of informed expected utility maximization with alternative behavioral models of choice as explanations for what they observe. The...

Presentation on US Hospital Websites of Risks and Benefits of Transcatheter Aortic Valve Replacement Procedures

Jan. 12, 2015

Mariah L. Kincaid, Lee A. Fleisher, Mark D. Neuman

In JAMA Internal Medicine, Mariah Kincaid (Tufts University) and Penn colleagues Lee Fleisher and Mark Neuman assess how risks and benefits of transcatheter aortic valve replacement (TAVR) are communicated on hospital websites. TAVR was recently approved by the U.S. Food and Drug Administration for the treatment of severe aortic stenosis among carefully selected patients. Recent randomized clinical trials have identified important positive and negative outcomes of TAVR, including twice the risk of stroke for patients undergoing TAVR vs those undergoing open aortic valve...