Hélène Schernberg: Catalogue data in Autumn Semester 2024

Name Dr. Hélène Schernberg
Address
Lehre Management, Technol. u. Ök.
ETH Zürich, SEC D 8
Scheuchzerstrasse 7
8092 Zürich
SWITZERLAND
Telephone+41 44 632 82 49
E-mailhschernberg@ethz.ch
URLhttps://sites.google.com/view/helene-schernberg/home
DepartmentManagement, Technology, and Economics
RelationshipLecturer

NumberTitleECTSHoursLecturers
363-1017-00LRisk and Insurance Economics3 credits2GH. Schernberg
AbstractThe course covers the economics of risk and insurance, in particular the following topics will be discussed:
2) individual decision making under risk
3) models of insurance demand, risk sharing, insurance supply
4) information issues in insurance markets
5) advanced topics in microeconomics and behavioral economics
5) the macroeconomic role of insurers and insurance regulation
Learning objectiveThe course introduces students to basic microeconomic models of risk attitudes and highlight the role insurance can – or cannot – play for individuals facing risks.
ContentEveryday, we take decisions involving risks. These decisions are driven by our perception of and our appetite for risk. Insurance plays a significant role in people's risk-management strategies.

In the first part of this lecture, we discuss a normative decision concept, Expected Utility theory, and compare it with empirically observed behaviour.

Students then learn about the rationale for individuals to purchase insurance, and for companies to offer it. We derive the optimal level of insurance demand and discuss how it depends on our model's underlying assumptions.

We then discuss the consequences of information asymmetries in insurance markets and the consequences for insurance supply.

Finally, we discuss refinements in decision theory that help account for observed behaviours that don't fit with the basic models of microeconomic theory. For example, we'll explore how behavioural economics can be leveraged by the insurance industry.
LiteratureMain literature:

- Zweifel, P., & Eisen, R. (2012). Insurance Economics. Springer.
- Handbook of the Economics of Risk and Uncertainty, Volume1;

Further readings:

- Dionne, G. (Ed.). (2013). Handbook of Insurance (2nd ed.). Springer.

References will be given on a topic-by-topic basis during the course.
CompetenciesCompetencies
Subject-specific CompetenciesConcepts and Theoriesassessed
Method-specific CompetenciesAnalytical Competenciesassessed
Problem-solvingassessed
Personal CompetenciesCritical Thinkingassessed
Self-direction and Self-management fostered
364-1058-00LRisk Center Seminar Series0 credits2SH. Schernberg, D. Basin, A. Bommier, D. N. Bresch, S. Brusoni, L.‑E. Cederman, P. Cheridito, F. Corman, H. Gersbach, C. Hölscher, K. Paterson, G. Sansavini, B. Stojadinovic, B. Sudret, J. Teichmann, R. Wattenhofer, S. Wiemer, R. Zenklusen
AbstractThis course is a mixture between a seminar primarily for PhD and postdoc students and a colloquium involving invited speakers. It consists of presentations and subsequent discussions in the area of modeling complex socio-economic systems and crises. Students and other guests are welcome.
Learning objectiveParticipants should learn to get an overview of the state of the art in the field, to present it in a well understandable way to an interdisciplinary scientific audience, to develop novel mathematical models for open problems, to analyze them with computers, and to defend their results in response to critical questions. In essence, participants should improve their scientific skills and learn to work scientifically on an internationally competitive level.
ContentThis course is a mixture between a seminar primarily for PhD and postdoc students and a colloquium involving invited speakers. It consists of presentations and subsequent discussions in the area of modeling complex socio-economic systems and crises. For details of the program see the webpage of the colloquium. Students and other guests are welcome.
Lecture notesThere is no script, but a short protocol of the sessions will be sent to all participants who have participated in a particular session. Transparencies of the presentations may be put on the course webpage.
LiteratureLiterature will be provided by the speakers in their respective presentations.
Prerequisites / NoticeParticipants should have relatively good mathematical skills and some experience of how scientific work is performed.