James headshot

James M. Carson

  • Department Head, Department of Insurance, Legal Studies and Real Estate
  • Daniel P. Amos Distinguished Professor of Insurance and Professor, Risk Management and Insurance Program


James (Jim) M. Carson serves as the Daniel P. Amos Distinguished Professor of Insurance and as Head of the Department of Insurance, Legal Studies, and Real Estate in the Terry College of Business at the University of Georgia. Professor Carson also serves as the Director of the Risk Management and Insurance Program, where he teaches various courses at the undergraduate, masters, and doctoral levels. Prior to joining the faculty at UGA, he served as the Midyette Eminent Scholar in the College of Business at Florida State University (2001-2011) and as the Katie Research Professor at Illinois State University (1993-2001). Professor Carson is a Past-President of the American Risk and Insurance Association, the world’s premier academic risk and insurance organization. His research focuses on (1) the economics of risk and insurance; (2) market discipline; (3) insurer pricing, solvency, and operations; (4) regulatory and ethical issues; and (5) financial planning. He is co-author of a collection of Risk & Insurance principles based principally on Warren Buffett’s writing and speaking dating back to the 1960s. Prof. Carson also is co-author of the book entitled, Life Insurance Analysis. Dr. Carson’s publications have appeared in various scholarly and professional journals including Journal of Risk and Insurance, Insurance: Mathematics and Economics, Journal of Banking and Finance, North American Actuarial Journal, Risk Management and Insurance Review, Journal of Insurance Regulation, Journal of Business Ethics, Journal of Insurance Issues, Scandinavian Actuarial Journal, Journal of Actuarial Practice, and other academic and professional journals.


  • PhD, Risk Management and Insurance, University of Georgia, 1993
  • MA, Finance/Insurance, University of Nebraska-Lincoln, 1989
  • BSBA, Finance/Insurance, University of Nebraska-Lincoln, 1986

Research Interests

  • Economics of risk and insurance
  • Market discipline
  • Insurer pricing, solvency, and operations
  • Regulatory and ethical issues
  • Financial planning


Journal Articles

  • Yun, Jiyeon, James M. Carson, David L. Eckles, (2023), Executive Compensation and Corporate Risk Management. Journal of Risk and Insurance. 90:521-557.
  • Carson, James M., Evan M. Eastman, David L. Eckles, and Joshua D. Frederick, (in press). Are Internal Capital Markets Ex-Post Efficient? North American Actuarial Journal. 27:630-655.
  • Carson, James M., Cameron Ellis, Robert E. Hoyt, Krzysztof Ostaszewski, 2020. Sunk Costs and Screening: Two-Part Tariffs in Life Insurance. Journal of Risk and Insurance. 87(3):689-718.
  • Carson, James M. Evan M. Eastman, and David L. Eckles. 2018. Ratings: It’s Accrual World. Journal of Risk and Insurance, 85:787-809.
  • Eriksen, Michael D. and James M. Carson. 2017. A Burning Question: Does Arson Increase When House Prices Decline? Journal of Risk and Insurance, 84:7-34.
  • Carson, James M., Robert E. Hoyt, and Tim R. Samples. 2017. Dead or Alive: The Law, Policy, and Market Effects of Legislation on Unclaimed Life Insurance Policy Benefits. Notre Dame Journal Of Law, Ethics & Public Policy, 31:1-28.
  • Zeng, Xudong, Yuling Wang, and James M. Carson. 2015. Dynamic Portfolio Choice with Stochastic Wage and Life Insurance. North American Actuarial Journal, 19(4):256-272.
  • Cole, Cassandra, Stephen G. Fier, James M. Carson, and Demetra Andrews. 2015. The Impact of Insurer Name Changes on the Demand for Insurance. Journal of Risk and Insurance.
  • Carson, James M., Kathleen A. McCullough, and David Pooser. 2013. Deciding Whether to Invest in Mitigation Measures: Evidence from Florida. Journal of Risk and Insurance, 80:309-327.
  • Mao, Hong, James M. Carson, Krzysztof Ostaszewski, and Zhongkai Wen. 2013. Optimal Decision on Dynamic Insurance Price and Investment Portfolio of an Insurer. Insurance: Mathematics and Economics, 52:359-369.
  • Fier, Stephen G., Kathleen McCullough, and James M. Carson. 2013. Internal Capital Markets and the Partial Adjustment of Leverage. Journal of Banking & Finance, 37:35-57.
  • Liebenberg, Andre, James M. Carson, and Randy E. Dumm. 2012. A Dynamic Analysis of the Demand for Life Insurance. Journal of Risk and Insurance, 79:619-644.
  • Liebenberg, Andre P., James M. Carson, and Robert E. Hoyt. 2010. The Demand for Life Insurance Policy Loans. Journal of Risk and Insurance, 77:651-666.
  • Carson, James M., Elyas Elyasiani, and Iqbal Mansur. 2008. Market Risk, Interest Rate Sensitivity, and Interdependency in Insurer Stock Returns: A System-GARCH Model. Journal of Risk and Insurance, 75:873-891.
  • Brewer, Elijah, James M. Carson, Elyas Elyasiani, Iqbal Mansur, and William Scott. 2007. Interest Rate Risk and Equity Values of Life Insurance Companies: a GARCH-M Model. Journal of Risk and Insurance, 74:401-423.


  • American Risk and Insurance Association, President, 2004 – 2005, Professional
  • Western Risk and Insurance Association, President, 2000 – 2001, Professional

Prior Professional Positions

  • Midyette Eminent Scholar, Florida State University, 2001-2011
  • Katie Research Professor, Illinois State University, 1993-2001