| Assessing Risk Assessment: Towards Alternative Risk Measures for Complex Financial Systems 2017 Edition Contributor(s): Hoffmann, Christian Hugo (Author) |
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ISBN: 3658200316 ISBN-13: 9783658200312 Publisher: Springer Gabler OUR PRICE: $85.49 Product Type: Paperback Published: December 2017 |
| Additional Information |
| BISAC Categories: - Business & Economics | Economics - Theory - Business & Economics | Economic History - Business & Economics | Insurance - Risk Assessment & Management |
| Dewey: 330.1 |
| Physical Information: 0.81" H x 5.83" W x 8.27" (1.03 lbs) 377 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Christian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants' own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome. |