Institut für Risikomanagement und Versicherung




Hauptseminar: Behavioral Risk Management and Insurance

Prof. Dr. Andreas Richter
Contact: Stefan Neuß

During the summer term of 2016, 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 risky situations. Behavioral models in risk management and insurance try to give alternative explanations for the 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 taking part 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 / Diplomarbeit, students should be familiarized with the independent composition of a scientific piece of work.

Organizational Issues


  • The number of participants is restricted.
  • Application Period: January 8th, 2016 – January 20th, 2016.
  • Important information on application process and deadlines can be found here!


  • Students of Business or Economics (Bachelor) with a specialization in "Markt-und Finanzorientierte BWL" (BSc PO 2008).
  • Students of Bachelor Business Mathematics (Wirtschaftsmathematik) may participate after a successful registration. See more in “Information for Business Mathematics Students”.


  • English


January 20th before 12 pm Application Deadline LSF
April 12th 2 pm - 4 pm Kick-Off-Meeting:Introduction to scientific writing and presentation of topics Room 307, Schackstr. 4
April 13th   Allocation of topics and start writing Via email
May 25th before 12 pm Submission of papers (two hardcopies + digital version) Room 302, Schackstr. 4
June 1st – 3rd Individual Feedback on papers and allocation of discussions Room TA
June 16th   E-Mail your group´s presentations to your coach (either pdf or ppt) Via email
June 17th 08:30 am – 4:30 pm Presentations of papers and discussions Room 307, Schackstr. 4


  • Type of examination: paper, presentation, discussion of another paper (in English).
  • The seminar will be valued with 6 ECTS in “Markt- undFinanzorientierte BWL” (PO Bachelor 2008), or 6 ECTS in Module WP 21 for students of business mathematics (see more in “Information for Business Mathematics Students”).

Information for Business Mathematics Students

  • Students of Bachelor Business Mathematics (Wirtschaftsmathematik) may participate after a successful registration via email to with your CV, matriculation number and transcript (Kontoauszug) before January 20th, 2016.
  • However, please note that due to their mandatory participation, students of Business Administration have priority in the application and we will consider your application only if extra capacity is available. An email will be sent to you before January 27th, 2016 to tell you whether your registration is successful.
  • In case your registration cannot be accepted, you may consider the following courses offered by our institute: “Versicherungsbilanzen” (WP 1), “Risiko und Versicherung” (WP 3) or “Grundlagen der Versicherungsproduktion” + “Proseminar zu Risiko und Versicherung” (WP 17).


  • The successful participation of this seminar is the prerequisite for writing a bachelor or diploma thesis at our institute (for further requirements please see our homepage).
  • Please find more information in the syllabus.