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Plight of the Fortune Tellers : Why We Need to Manage Financial Risk Differently (New in Paper) by Rebonato, Riccardo is a nonfiction available to read on EtoBox.

What is Plight of the Fortune Tellers : Why We Need to Manage Financial Risk Differently (New in Paper) about?

Today's top financial professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and puts everyone at risk. In __Plight of the Fortune Tellers__, Riccardo Rebonato forcefully argues that we must restore genuine decision making to our financial planning. Presenting a financial model that uses probability, experimental psychology, and decision theory, Rebonato challenges us to rethink the standard wisdom about risk management. He offers a radical yet surprisingly commonsense solution: managing risk comes down to real people making decisions under uncertainty. __Plight of the Fortune Tellers__ is a must-read for anyone concerned about how today's financial markets are run. In a new preface, Rebonato explains how the ideas presented in this book fit into the context of the global financial crisis that followed its original publication. He argues that risk managers are still stuck in a probabilistic rut, and need to engage with the structural causes of real events.

Who reads Plight of the Fortune Tellers : Why We Need to Manage Financial Risk Differently (New in Paper)?

Author

Rebonato, Riccardo

Publisher

Princeton University Press

Published

2010

Language

EN

ISBN

9781400836390

Category

nonfiction

Subjects

Business, Management, Economics