2007/10/05 Deadline for Ackoff Fellowships



Wharton Risk Management and DecisionProcessesCenter


2008 Russell Ackoff Doctoral Student Fellowships

for Research on Human Decision Processes and Risk Management



The WhartonCenter for Risk and Decision Processes is pleased to announce the 3rd edition of the Ackoff Doctoral Student Fellowships, which constitutes a new funding opportunity for doctoral research on human decision making at Penn.  The funding will take the form of research awards in the $1,000-$2,500 range, funds that can be used to support data collection, travel, and other research related expenses.  The 2006-2007 fellowships supported 15 students from various departments at Wharton and Penn. In the coming year, we would like to support a similar number of fellowship recipients.

We hope to use these fellowships to facilitate the development of a doctoral student research community in the area of decision making under uncertainty.  As such, in addition to the direct funding, award recipients will be invited to participate in two Center-sponsored seminars to be hosted at the WhartonSchool, one in late Fall 2007 and a second in early Summer 2008.

The first seminar is designed to provide students with the opportunity to present their research ideas in the early stages. The 2007-2008 recipients will be responsible for organizing the second event, a one-day conference gathering doctoral students from Penn and other universities; a conference by and for doctoral students undertaking research in related fields.

Students engaged in on-going research that relates to problems in decision making under risk and uncertainty are encouraged to apply.  Proposals can reflect a broad range of theoretical and methodological perspectives, and may include tests on economic theories of risky decision making, investigations into the role of emotions in decision making, and group decision making.

 Proposals should be 2-3 pages in length, and include the following information:

  1. Project title and descriptive summary (1-2 pages);
  2. Name of primary faculty member with whom the student is working;
  3. Proposal must be signed by the primary faculty member, or by the advisor;
  4. Detailed budget describing the anticipated expenses; and
  5. Description of other current sources of research and travel funding from your department.

The deadline for proposals is Friday, October 5, 2007.  

Please send the complete proposal and additional information to Cynthia Anderson @Cynthia2@...

            The research fellowships are named in honor of an endowment provided to the WhartonSchool by Anheuser-Busch Charitable Trust (Donor). The Donor and the University agree that to better continue the development of management science at the School; fund assets shall be used to create the Russell Ackoff Endowment to promote research and practice in risk management and systems science. Professor Ackoff is a very well-known and distinguished member of the Penn faculty community, whose life’s work has been dedicated to furthering our understanding of human behavior in organizations.  It is in the spirit of continuing this legacy by supporting doctoral training that the fellowships have been named.

The Wharton Risk Management and DecisionProcessesCenter is a nexus of people and projects devoted to furthering the practical understanding of how to manage situations of risk involving health, safety, and the environment in both the private and public sectors of our society. Since it’s creation in 1984, the Center has been at the forefront of research into the management of low-probability/high-consequence events, i.e. extreme events. In addition to working on programs of basic and applied research, Risk Center faculty serve on national and international advisory committees, with partnerships in government, academia, industry, and NGOs.

Building on the disciplines of economics, decision sciences, finance, insurance, and marketing, the Center's research program is focused on descriptive and prescriptive analyses. Descriptive research focuses on how individuals and organizations interact and make decisions regarding the management of catastrophic risk. Prescriptive analyses propose ways that individuals and organizations, both private and governmental, can make better decisions regarding risk. The Center supports and undertakes field and experimental studies of risk and uncertainty to understand better the link between descriptive and prescriptive approaches to decision-making in coping with technological and natural hazards under various regulatory, environmental, and market conditions. Center research investigates the effectiveness of such strategies as incentive systems, insurance, regulation, and the communication of risk information.

Website: http://opim.wharton.upenn.edu/risk/



Howard Kunreuther                     Robert J. Meyer                       Erwann Michel-Kerjan

Co-Director                               Co-Director                              Managing Director