Plight of the Fortune Tellers: Why We Need to Manage Financial Risk DifferentlyToday'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. |
Contents
ix | |
Preface | xxxi |
Acknowledgments | xlix |
1 Why This Book Matters | 1 |
2 Thinking about Risk | 22 |
3 Thinking about Probabilities | 40 |
4 Making Choices | 67 |
5 What Is Risk Management For? | 107 |
Other editions - View all
Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently Riccardo Rebonato No preview available - 2010 |
Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently Riccardo Rebonato No preview available - 2007 |