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Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently
Paperback
AccountingInvesting & FinanceManagement
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ISBN13: 9780691148175
Publisher: Princeton Univ Pr
Published: Nov 28 2010
Pages: 328
Weight: 1.05
Height: 0.80 Width: 6.10 Depth: 9.20
Language: English
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.
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