The Ten Commandments of Risk Leadership
A Behavioral Guide on Strategic Risk Management
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Beschreibung
We as humans are prone to a variety of wired-in cognitive mistakes in the way we interpret and react to risk-related information. This is highly consequential since the cognitive biases managers are exposed to in their day-to-day business erode the objectivity of their risk-related decisions, which ultimately hurts the financial well-being of their firms. This book seeks to develop risk literacy as a leadership skill. It helps managers develop the skills to improve managerial decision-making in regards to managing risk.
The last decades have offered various insights into how human nature often gets in the way of rational decision-making. This book is a valuable resource for insurance executives, chief risk officers, company leaders, and graduate students of risk management and risk psychology. It is the first behavioral risk management guide for managers and other interested readers - using examples from economic theory, behavioral finance, and game theory, it studies the hiddenforces that drive our decision-making processes under risk.
We as humans are prone to a variety of wired-in cognitive mistakes in the way we interpret and react to risk-related information. This is highly consequential since the cognitive biases managers are exposed to in their day-to-day business erode the objectivity of their risk-related decisions, which ultimately hurts the financial well-being of their firms. This book seeks to develop risk literacy as a leadership skill. It helps managers develop the skills to improve managerial decision-making in regards to managing risk.
The last decades have offered various insights into how human nature often gets in the way of rational decision-making. This book is a valuable resource for insurance executives, chief risk officers, company leaders, and graduate students of risk management and risk psychology. It is the first behavioral risk management guide for managers and other interested readers - using examples from economic theory, behavioral finance, and game theory, it studies the hiddenforces that drive our decision-making processes under risk.
Offers insights from behavioral risk economics to teach today’s managers how to become better risk leaders Examines decision-making under risk from a cognitive and psychological perspective Presents a bridge between risk economics, theory and practical insights from risk psychology
Autor*in
Annette Hofmann
Themen in »The Ten Commandments of Risk Leadership«
Risk Psychology Insurance and the Ostrich effect Catastrophe Insurance Framing Prospect Theory Loss Aversion Zero-Risk Bias Hindsight Bias Groupthink Overconfidence Anchoring