Howard Kunreuther

Howard Kunreuther

Howard Kunreuther is a researcher and co-author of the 2000 Journal of Risk and Uncertainty paper on the affection effect in insurance decisions.

Who they are

The work of Howard Kunreuther reaches this site through the paper listed below. The name is tied to Affection Effect.

Key papers

Hsee, C. K., & Kunreuther, H. C. (2000). The affection effect in insurance decisions. Journal of Risk and Uncertainty, 20(2), 141-159. What it reports: Attachment to an item raised willingness to insure it at an unchanged payout and made people more likely to file a claim for a fixed payout after damage. Standard theories do not predict either pattern. Authors propose a consolation hypothesis: compensation is comfort for loss, not only money.

Key ideas

Affection Effect: The finding that attachment to an item raises willingness to insure it even when the payout is unchanged.

Sources

  1. Hsee, C. K., & Kunreuther, H. C. (2000). The affection effect in insurance decisions. Journal of Risk and Uncertainty, 20(2), 141-159.