The SCOR/Risk Foundation “Risk Markets and Value Creation” chair was created in 2007 and renewed in 2012 and 2018. In 2020, it was renewed for a further period of three years until 2023.
Head of the Chair: Christian Gollier | Co-Head of the Chair: Stephane Villeneuve | Click here to access the TSE Chair website.
The aim of the chair is to support theoretical and applied research on risk sharing and on longevity risk, combining methodologies from financial economics, industrial organization and econometrics. It has allowed TSE researchers to focus their research essentially on two themes: the regulation of insurance markets and risk management, concentrating in particular on risk-sharing market mechanisms, regulation liquidity and solvency, attitudes towards risk (ambiguity, psychological bias), the econometric quantification of extreme risks and interdependencies, and longevity risk.
The “Risk Markets and Value Creation” chair provides long-term support for research and is currently structured around five fields, with a team of dedicated researchers:
- Ambiguity and long-term investments
- Dynamic corporate finance
- Longevity risk, long-term care and (social) insurance
- Non-exclusivity in insurance and financial markets
- Econometrics of risk, volatility and predictability of asset returns
Click here for more information about the associate researchers.
During the 47th annual seminar of the European Group of Risk and Insurance Economists (EGRIE), two awards sponsored by the SCOR Corporate Foundation for Science and the SCOR group were presented in August:
- The SCOR-Geneva Risk and Insurance Review Best Paper Award went to Céline Grislain-Letrémy of CREST and Université Paris-Dauphine and Bertrand Villeneuve of Université Paris-Dauphine for their joint article “Natural Disasters, Land-Use, and Insurance”;
- The SCOR-EGRIE Young Economist Award went to Richard Peter of University of Iowa and Pascal Toquebeuf of University of Grenobles-Alpes, for their joint article “Separating ambiguity and ambiguity attitude with mean-preserving capacities: Theory and applications”.
Paris, September 26, 2019 – Two prizes sponsored by the SCOR Foundation for Science and the SCOR group were awarded on Saturday, September 21, 2019, as part of the 44th annual seminar of the European Group of Risk and Insurance Economists (EGRIE):
- The SCOR-Geneva Risk and Insurance Review Best Paper Award went to Miles Kimball of the University of Colorado and Christian Gollier of the Toulouse School of Economics for their joint article “New methods in the classical economics of uncertainty: Comparing risks”.
- The SCOR-EGRIE Young Economist Award went to Lu Li of Ludwig-Maximilians-Universität in Munich, for her article “Opening up the black box: The impact of technological transparency on self-protection” (other nominees were Tim Boonen and Mario Ghossoub, Anastasios Dosis).
Click here to read the press release.
Award Winners: Wanda Mimra, Janina Nemitz, and Christian Waibel
Title: Voluntary Pooling of Genetic Risk: A Health Insurance Experiment
Other Nominees: Johannes Jaspersen, Richard Peter and Marc Ragin, Yehuda Levy and André Veiga
Award Winner: Sebastian Ebert
Title: Decision making when things are only a matter of time
Other Nominees: Carole Bernard and Thorsten Moening, Christian Kubitza
Award Winners: Maria Efthymiou and Andreas Milidonis
Title: Does Limited Attention Affect Institutional Trading?
Other Nominees: Semir Ben Ammar, Alexander Braun and Martin Eling, Christian Hilpert
Award Winner: Svenja Hector
Title: Extending the Ramsey Equation further: Discounting under Mutually Utility Independent and Recursive Preferences
Other Nominees: Ola Mahmoud, Sebastian Schlütter
Award Winners: Nadine Gatzert, Sebastian Pokutta, and Nikolai Vogl
Title: Convergence of Capital and Insurance Markets: Consistent Pricing of Indexed-Linked Catastrophic Loss Instruments
Other Nominees: Katarzyna Werner, Muhammed Altuntas, Thomas Berry-Stölzle and Sabine Wende
Award Winners: Sebastian Ebert and Philipp Strack
Title: Until the Bitter End: On Prospect Theory in a Dynamic Context
Other Nominees: Daniel Bauer, Enrico Biffis and Luz Rocio Sotomayor, Nadine Gatzert and Michael Martin
Award Winner: Andreas Milidonis
Title: Compensation Incentives of Credit Ratings Agencies and Predictability of Changes in Bond Ratings and Financial Strength Ratings
Other Nominees: Robert Kremslehner, Annette Hofmann and Richard Peter
Award Winners: Carole Bernard and Steven Vanduffel
Title: Financial Bounds for Insurance Claims
Other Nominees: Johannes Maier and Maximilian Rüger, AJ Allen Bostian and Christoph Heinzel
Award Winner: Sara Arvidsson
Title: Does Private Information Affect the Insurance Risk? Evidence from the Automobile Insurance Market
Other Nominees: Damir Filipovic, Robert Kremslehner and Alexander Muermann, Thomas Post and Katja Hanewald
Award Winners: Julien Hardelin and Sabine Lemoyne de Forges
Title: Price Competition and Capital Choice of Risk Averse Firms: Application to the Insurance Industry
Other Nominees: David Crainich, Robert Kremslehner and Alexander Mürmann
Award Winner: Joerg Schiller
Title: Matching and Risk Classification in Insurance Markets with Intermediation
Other Nominees: Gudrun Hoermann, Nadine Gatzert and Hato Schmeiser, Paolo Zanghieri