Plight of the Fortune Tellers

Why We Need to Manage Financial Risk Differently

Business & Finance, Economics, International Economics, Finance & Investing, Banks & Banking
Cover of the book Plight of the Fortune Tellers by Riccardo Rebonato, Princeton University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Riccardo Rebonato ISBN: 9781400836390
Publisher: Princeton University Press Publication: November 8, 2010
Imprint: Princeton University Press Language: English
Author: Riccardo Rebonato
ISBN: 9781400836390
Publisher: Princeton University Press
Publication: November 8, 2010
Imprint: Princeton University Press
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.

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Princeton University Press

Cover of the book When Computers Were Human by Riccardo Rebonato
Cover of the book What Is the Present? by Riccardo Rebonato
Cover of the book The Story of Silver by Riccardo Rebonato
Cover of the book Running Randomized Evaluations by Riccardo Rebonato
Cover of the book Functional Analysis by Riccardo Rebonato
Cover of the book Mathematical Techniques in Finance by Riccardo Rebonato
Cover of the book The Jews of Islam by Riccardo Rebonato
Cover of the book Hamlet's Arab Journey by Riccardo Rebonato
Cover of the book Democratic Governance by Riccardo Rebonato
Cover of the book The Son Also Rises by Riccardo Rebonato
Cover of the book The Birth of Modern Belief by Riccardo Rebonato
Cover of the book Looking for Rights in All the Wrong Places by Riccardo Rebonato
Cover of the book A Solution to the Ecological Inference Problem by Riccardo Rebonato
Cover of the book The Known, the Unknown, and the Unknowable in Financial Risk Management by Riccardo Rebonato
Cover of the book Italo Calvino by Riccardo Rebonato
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy