catastrophic risks. Economists typically model decision making under risk and uncertainty by expected utility with constant … relative risk aversion (power utility); statisticians typically model economic catastrophes by probability distributions with …

and risk prevention as this trend continues. In this paper, we convert natural disaster losses to the year 2016 dollars … outperforms the other two composite distributions in modeling natural disaster losses. Important risk measures for natural … the US shows that there is an increasing trend in annul natural disaster losses after 1980. Climate change is recognized …