The Known, the Unknown, and the Unknowable in Financial Risk Management PDF
By:Francis X. Diebold,Neil A. Doherty,Richard J. Herring
Published on 2010-05-09 by Princeton University Press
A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or VaR--reduces these risks to a single number, creating a false sense of security among risk managers, executives, and regulators. This book introduces a more realistic and holistic framework called KuU --the K nown, the u nknown, and the U nknowable--that enables one to conceptualize the different kinds of financial risks and design effective strategies for managing them. Bringing together contributions by leaders in finance and economics, this book pushes toward robustifying policies, portfolios, contracts, and organizations to a wide variety of KuU risks. Along the way, the strengths and limitations of |quantitative| risk management are revealed. In addition to the editors, the contributors are Ashok Bardhan, Dan Borge, Charles N. Bralver, Riccardo Colacito, Robert H. Edelstein, Robert F. Engle, Charles A. E. Goodhart, Clive W. J. Granger, Paul R. Kleindorfer, Donald L. Kohn, Howard Kunreuther, Andrew Kuritzkes, Robert H. Litzenberger, Benoit B. Mandelbrot, David M. Modest, Alex Muermann, Mark V. Pauly, Til Schuermann, Kenneth E. Scott, Nassim Nicholas Taleb, and Richard J. Zeckhauser. Introduces a new risk-management paradigm Features contributions by leaders in finance and economics Demonstrates how |killer risks| are often more economic than statistical, and crucially linked to incentives Shows how to invest and design policies amid financial uncertainty
This Book was ranked at 13 by Google Books for keyword Insurance Risk Management novel.
Book ID of The Known, the Unknown, and the Unknowable in Financial Risk Management's Books is 8iA9U8ixYCgC, Book which was written byFrancis X. Diebold,Neil A. Doherty,Richard J. Herringhave ETAG "QiKjPbKKIR8"
Book which was published by Princeton University Press since 2010-05-09 have ISBNs, ISBN 13 Code is 9780691128832 and ISBN 10 Code is 0691128839
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Book which have "380 Pages" is Printed at BOOK under CategoryBusiness and Economics
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