Institut für Risikomanagement und Versicherung

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Hauptseminar: Behavioral Risk Management and Insurance

Prof. Dr. Andreas Richter; Benjamin Heidler

Course Format (Update April, 8th)

Because of the current COVID-19 pandemic, we plan to give the seminar online via There will be a voluntary additional technical appointment where you can test Zoom (see updated schedule). Please make also sure to check your campus email address for more information. If you have any questions, please send an email to

Course Description

During the summer term of 2020, the Institute for Risk Management and Insurance will offer this seminar on behavioral risk management and insurance.
Extensive evidence shows that individuals do not behave as predicted by classic economic theory in many contexts. This is especially true in decision making under risk and uncertainty. Behavioral models in risk management and insurance try to give alternative explanations for individuals’ behavior in the presence of uncertainty. Those models typically combine insights from psychology and microeconomic theory.
The seminar targets to familiarize the participants with the main concepts, methods, and empirical findings of behavioral risk management and insurance. This includes the preparation and presentation of a home assignment as well as participating in the discussion during joint sessions. The seminar covers theoretical, empirical and experimental research topics.
The topics will be discussed with active involvement of the participants. Learning and research strategies are to be conveyed, so that students are empowered to acquaint themselves with a scientific problem and read up on relevant literature. Furthermore, as a basis for the Bachelor Thesis, students should be familiarized with the independent composition of a scientific piece of work.

Further Information