The Known, the Unknown, and the Unknowable in Financial Risk Management:Measurement and Theory Advancing Practice

已知与未知及财务风险管理中的未知因素:测量与理论指导的实践

行政管理,人事行政,财务行政,行政决策

售   价:
661.00
发货周期:预计8-10周
出  版 社
出版时间
2010年05月09日
装      帧
精装
ISBN
9780691128832
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页      码
380
开      本
9.30 x 6.20 x 1.30
语      种
英文
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库存 20 本
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图书简介
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
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Yale University Library
Princeton University Library
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