LEADER 05212nam 2200697 a 450 001 9910785639903321 005 20230725033807.0 010 $a1-283-53981-0 010 $a9786613852267 010 $a1-4008-3528-3 024 7 $a10.1515/9781400835287 035 $a(CKB)2670000000233787 035 $a(EBL)990372 035 $a(OCoLC)845245983 035 $a(SSID)ssj0000701495 035 $a(PQKBManifestationID)11428542 035 $a(PQKBTitleCode)TC0000701495 035 $a(PQKBWorkID)10675944 035 $a(PQKB)11701557 035 $a(MiAaPQ)EBC990372 035 $a(OCoLC)811405240 035 $a(MdBmJHUP)muse43097 035 $a(DE-B1597)453721 035 $a(OCoLC)979632409 035 $a(DE-B1597)9781400835287 035 $a(Au-PeEL)EBL990372 035 $a(CaPaEBR)ebr10587960 035 $a(CaONFJC)MIL385226 035 $a(iGPub)PUPB0001591 035 $a(EXLCZ)992670000000233787 100 $a20091009d2010 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 04$aThe known, the unknown, and the unknowable in financial risk management$b[electronic resource] $emeasurement and theory advancing practice /$fFrancis X. Diebold, Neil A. Doherty, Richard J. Herring, editors 205 $aCourse Book 210 $aPrinceton, N.J. $cPrinceton University Press$dc2010 215 $a1 online resource (391 p.) 300 $aDescription based upon print version of record. 311 $a0-691-12883-9 320 $aIncludes bibliographical references and index. 327 $aRisk : a decision maker's perspective / Clive W.J. Granger -- Mild vs. wild randomness : focusing on those risks that matter / Benoit B. Mandelbrot and Nassim Nicholas Taleb -- The term structure of risk, the role of known and unknown risks, and nonstationary distributions / Riccardo Colacito and Robert F. Engle -- Crisis and noncrisis risk in financial markets : a unified approach to risk management / Robert H. Litzenberger and David M. Modest -- What we know, don't know, and can't know about bank risk : a view from the trenches / Andrew Kuritzkes and Til Schuermann -- Real estate through the ages : the known, the unknown, and the unknowable / Ashok Bardhan and Robert H. Edelstein -- Reflections on decision-making under uncertainty / Paul R. Kleindorfer -- On the role of insurance brokers in resolving the known, the unknown, and the unknowable / Neil A. Doherty and Alexander Muermann -- Insuring against catastrophes / Howard Kunreuther and Mark V. Pauly -- Managing increased capital markets intensity : the chief financial officer's role in navigating the known, the unknown, and the unknowable / Charles N. Bralver and Daniel Borge -- The role of corporate governance in coping with risk and unknowns / Kenneth E. Scott -- Domestic banking problems / Charles A.E. Goodhart -- Crisis management : the known, the unknown, and the unknowable / Donald L. Kohn -- Investing in the unknown and unknowable / Richard J. Zeckhauser. 330 $aA 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 606 $aFinancial risk management 606 $aRisk management 615 0$aFinancial risk management. 615 0$aRisk management. 676 $a658.15/5 686 $aQK 600$2rvk 701 $aDiebold$b Francis X.$f1959-$0266490 701 $aDoherty$b Neil A$0147257 701 $aHerring$b Richard$0111099 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910785639903321 996 $aThe known, the unknown, and the unknowable in financial risk management$93743502 997 $aUNINA