Behavioral and Experimental Research in Risk and Insurance

Behavioral and Experimental Research in Risk and Insurance

The team is interested in improving our understanding of human decision making under risk and uncertainty by integrating insights from economics and psychology. We use experiments and real-world data to provide a more accurate description of human behavior in risky situations with a particular interest in violations of standard rationality and means to improve welfare. Our research contributes to ongoing debates in the academic literature and in practice to provide implications for contemporary real-world challenges. The following list provides a selection of current areas of research:

  • Characterization of risk and uncertainty preferences
  • Resolution of incentive and selection problems in insurance
  • The role of uncertainty and ambiguity preferences
  • Insurance demand and contract nonperformance risk
  • The role of pro-social preferences under risk and uncertainty
  • Honesty and technology
  • Health insurance
ChristianBiener

Christian Biener holds a venia legendi in Finance, is a senior researcher and Privatdozent at the University of St. Gallen (HSG), and is a Member of the Executive Board of the Institute of Insurance Economics (I.VW-HSG). Dr. Biener has been a visiting researcher at the University of Wisconsin-Madison (United States) and the University of Mannheim (Germany). Before joining HSG, he received his doctoral degree in Political and Economic Sciences (Dr. rer. pol.) from the University of Ulm (Germany) and his diploma in Business Administration (Dipl.-Kfm.) from Goethe-University Frankfurt (Germany). Dr. Biener has received the Shin Research Excellence Award from the Geneva Association and the International Insurance Society and the Doctoral Dissertation Award from the University of Ulm Society.

Education

2003: Abitur at Windhorst-Gymnasium, Meppen, Germany
2004-2009: Studies in Economics and Business Administration (Dipl.-Kfm.), Goethe-University Frankfurt, Germany
2005-2006: Study Abroad Program, Charles University, Prague, Czech Republic
2009-2011: Doctor of Political and Economic Sciences (Dr. rer. pol.), University of Ulm, Germany (Thesis: Essays on Microinsurance: Efficiency, Insurability, and Pricing)
2011-2017: Habilitation in Finance, University of St. Gallen (Thesis: Essays on Behavioral Economics and Insurance Management)
2017: Venia Legendi in Finance

 

Appointments

2011-2017: Postdoctoral researcher, Institute of Insurance Economics, University of St. Gallen
2014: Visiting scholar, Department of Economics, University of Mannheim, Germany
2015: Visiting scholar, Department of Risk and Insurance, University of Wisconsin–Madison, United States of America
Since 2017: Privatdozent, University of St. Gallen
Since 2019: Member of the Executive Board, Institute of Insurance Economics, University of St. Gallen

 

Third-Party Grants & Awards

2012: Doctoral Dissertation Award, University of Ulm Society
2012-2013: University of St. Gallen Research Fund, research project funding
2012-2015: Swiss National Science Foundation, research project funding
2014: Shin Research Excellence Award, Geneva Association and International Insurance Society
2015: Swiss National Science Foundation, scholarship
2015: Dr. Hans Kessler Fund, research project funding
2016: Inclusion in 40-Years Anniversary Collection of most relevant publications in the Geneva Papers on Risk and Insurance (paper: Insurability in Microinsurance Markets: An Analysis of Problems and Potential Solutions, Geneva Papers on Risk and Insurance, 37(1): 77–107).
2018: University of St. Gallen Research Fund, research project funding
2019-2021: Swiss National Science Foundation, research project funding

Peer-Reviewed Journal Publications

  • Biener, C., M. Eling, and R. Jia, 2019, Globalization of the Insurance Industry: A Blessing or a Curse? European Journal of International Management, forthcoming.
  • Biener, C., A. Landmann, and M. I. Santana, 2019, Contract Nonperformance Risk and Uncertainty in Insurance Markets, Journal of Public Economics, 175(2019): 65–83.
  • Biener, C., M. Eling, A. Landmann, and S. Pradhan, 2018, Can Group Incentives Alleviate Moral Hazard? The Role of Pro-Social Preferences, European Economic Review, 101(2018): 230–249.
  • Biener, C., M. Eling, and R. Jia, 2017, The Structure of the Global Reinsurance Market: An Analysis of Efficiency, Scale, and Scope, Journal of Banking and Finance, 77(1): 213–229.
  • Biener, C., M. Eling, and J. H. Wirfs, 2016, The Determinants of Efficiency and Productivity in the Swiss Insurance Industry, European Journal of Operational Research, 248(2): 703–714.
  • Biener, C., M. Eling, and S. Pradhan, 2015, Recent Research Developments Affecting Nonlife Insurance: The CAS Risk Premium Project 2013, Risk Management and Insurance Review, 18(1): 129–141.
  • Biener, C., M. Eling, and J. H. Wirfs, 2015, Insurability of Cyber Risk: An Empirical Analysis, Geneva Papers on Risk and Insurance, 40(1): 131–158.
  • Biener, C., M. Eling, and J. T. Schmit, 2014, Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development, World Development, 58(1): 21–40.
  • Biener, C., 2013, Pricing in Microinsurance Markets, World Development, 41(1): 132–144.
  • Biener, C., and M. Eling, 2013, Recent Research Developments Affecting Nonlife Insurance: The CAS Risk Premium Project 2012, Risk Management and Insurance Review, 16(2): 219–231.
  • Biener, C., and M. Eling, 2012, Organization and Efficiency in the International Insurance Industry: A Cross-Frontier Analysis, European Journal of Operational Research, 221(2): 454–468.
  • Biener, C., and M. Eling, 2012, Insurability in Microinsurance Markets: An Analysis of Problems and Potential Solutions, Geneva Papers on Risk and Insurance, 37(1): 77–107.
  • Biener, C., and M. Eling, 2011, The Performance of Microinsurance Programs: A Data Envelopment Analysis, Journal of Risk and Insurance, 78(1): 83–115.

 

Working Papers and Work in Progress

  • Biener, C., and L. Zou, 2019, The Value of Choice in Mandatory Health Insurance.
  • Biener, C., M. Eling, and M. Lehmann, 2019, Weighting Privacy Against Insurance Coverage (invitation to revise and resubmit from Journal of Economic Behavior and Organization).
  • Biener, C., and A. Landmann, 2018, Awakening of the Rational Man? Non-Cognitive Skills After the Storm.
  • Biener, C., G. Harrison, A. Landmann, and Kieslich, P. J., 2017, Individual and Cross-Cultural Differences in Decision Processes under Risk.

 

Monographs and Other Publications (Non-Peer-Reviewed)

  • Biener, C., 2019, How Should Medical Costs Be Allocated? commissioned Study for the Credit Suisse Research Institute.
  • Biener, C., 2019, Artificial Conversational Agents – Changing the Norms? I.VW Management Information.
  • Biener, C., A. Waeber, and L. Zou, 2019, Heterogeneity in Behavioral Biases: A Review of the Literature, commissioned Study for the Swiss Re Institute.
  • Biener, C., Eling, M., and J. H. Wirfs, 2015, Cyber Risk: Risikomanagement und Versicherbarkeit, I.VW Schriftenreihe, Band 54.
  • Beck, K., von Wyl, V., Biener, C., and M. Eling, 2014, Brennpunkt Solidarität: Diskussionsbeiträge zur Weiterentwicklung der Sozialen Krankenversicherung, Band 125, Schriftenreihe der SGGP (Bern: Verlag SGGP).
  • Biener, C., and M. Eling, 2012, Emerging Markets gewinnen an Bedeutung, Zeitschrift für Versicherungswesen, 63(4): 119–122.
  • Biener, C., and M. Eling, 2011, Mikroversicherung: Profitabilität und Wachstumschancen in Zukunftsmärkten, Zeitschrift für das gesamte Kreditwesen, 64(8): 403–404.

Conference Presentations and Invited Talks

  • 09/2009 AFIR / LIFE Colloquium 2009, Munich (Germany)
  • 11/2009 5th International Microinsurance Conference, Dakar (Senegal)
  • 07/2010 World Risk and Insurance Economics Congress, Singapore (Republic of Singapore)
  • 11/2010 WiMa Kongress, Ulm (Germany)
  • 02/2011 Recent Advances in Efficiency Measurement in the Insurance Industry, Ulm (Germany)
  • 06/2011 ASTIN / AFIR Colloquium 2011, Madrid (Spain)
  • 09/2011 Contemporary Microfinance: Institutions, Policies, and Performance, Cairo (Egypt)
  • 04/2012 2012 Microinsurance Conference, Enschede (Netherlands)
  • 08/2012 ARIA 2012 Annual Meeting, Minneapolis (USA)
  • 12/2012 SBF Brown – Bag Seminar, St. Gallen (Switzerland)
  • 05/2013 ZEW/Uni Mannheim Experimental Seminar, Mannheim (Germany)
  • 04/2014 Swiss Society for Financial Market Research Annual Meeting, Zurich (Switzerland)
  • 06/2014 International Insurance Society (IIS) 50th Annual Seminar, London (United Kingdom)
  • 07/2014 APRIA 2014 Annual Conference, Moscow (Russia)
  • 08/2014 ARIA 2014 Annual Meeting, Seattle (USA)
  • 08/2014 29th Annual Congress of the European Economic Association, Toulouse (France)
  • 09/2014 CRO Forum, Zurich (Switzerland)
  • 09/2014 EGRIE 2014 Seminar, St. Gallen (Switzerland)
  • 12/2014 CEAR/MRIC Behavioral Insurance Workshop 2014, Munich (Germany)
  • 04/2015 University of Wisconsin-Madison Research Seminar, Madison (USA)
  • 08/2015 World Risk and Insurance Economics Congress, Munich (Germany)
  • 08/2016 ARIA 2016 Annual Meeting, Boston (USA)
  • 09/2016 EGRIE 2016 Seminar, Limassol (Cyprus)
  • 11/2016 Geneva Association Annual Liability Regimes Conference, Munich (Germany)
  • 12/2016 CEAR/MRIC Behavioral Insurance Workshop 2016, Munich (Germany)
  • 03/2017 6th Swiss Cyber Think Tank, Zurich (Switzerland)
  • 08/2018 ARIA 2018 Annual Meeting, Chicago (USA)
  • 01/2019 ASSA Annual Meeting 2019, Atlanta (USA)
  • 04/2019 Swiss Society for Financial Market Research Annual Meeting, Zurich (Switzerland)
  • 05/2019 cege Research Colloquium, Göttingen (Germany)
  • 08/2019 ARIA 2019 Annual Meeting, San Francisco (USA)

 

Refereeing Activity

  • European Journal of Finance
  • European Journal of Law and Economics
  • European Journal of Operational Research
  • Experimental Economics
  • Geneva Papers on Risk and Insurance
  • Journal of Behavioral and Experimental Economics
  • Journal of Contingencies and Crisis Management
  • Journal of the Economics of Ageing
  • Journal of Risk and Insurance
  • Risk Management and Insurance Review
  • Transactions on Internet Technology

 

Program Committees

  • World Risk and Insurance Economics Congress (WRIEC)
  • Annual Conference of the Swiss Society for Financial Market Research
Biener

Christian Biener

PD Dr. 
Privatdozent und Vizedirektor I.VW
christian.biener@unisg.ch
+41 71 224 7981
Waeber

Aline Waeber

Master of Arts in Economics 
Projektleiterin
aline.waeber@unisg.ch
+41 71 224 7948

Forschung

 

Weiterbildung

 

Lehre

 

Team

 
Behavioral and Experimental Research in Risk and Insurance
I.VW-HSG
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