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Extreme Event, Inc.

Extreme Event, Inc. THE PUZZLE? How does 9.11 challenge our understanding of low-probability, high consequence events? WHY IMPORTANT? Leads to identification of gaps in existing models, paradigms, and ways of addressing extreme events;

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Extreme Event, Inc.

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  1. Extreme Event, Inc. • THE PUZZLE? • How does 9.11 challenge our understanding of low-probability, high consequence events? • WHY IMPORTANT? • Leads to identification of gaps in existing models, paradigms, and ways of addressing extreme events; • Leads to new insights about policy, managerial responses.

  2. Extreme Event, Inc. • HOW GO ABOUT THIS? • Commissioned people and students roundtable at IBM center • Case study of 9.11 • Disciplinary perspectives on challenges to existing models/theories--Risk Perception, Decision Making, Risk sharing; • Practitioner perspectives on what was unique about the event response and recovery. • Comparative aspects of 9.11 to other “extreme events”--earthquakes, hurricanes.

  3. Extreme Event, Inc. • WHAT ARE THE KEY ISSUES TO ADDRESS? • Evaluate the reasonableness of response • What is effective? • What is ceremonial and ritualistic? • What is fighting last war? • Key issues • What are public and private sector impacts? • What is impact on business? On residences? On insurance? • How does this compare to other urban disasters such as Kobe earthquake? • What is long term impact? Short term impact?

  4. Extreme Event, Inc. • HOW GET PUBLIC-PRIVATE INVOLVEMENT? • Advisory committee--diverse participation, including international participation; • Practitioner perspectives. • HOW FUND? • With money and people’s time.

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