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The Under And Overestimation Of Risk And Other Problems With Risk Measures
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Book Synopsis The Under and Overestimation of Risk and Other Problems with Risk Measures by : Fernando Hideki Kato
Download or read book The Under and Overestimation of Risk and Other Problems with Risk Measures written by Fernando Hideki Kato and published by . This book was released on 2006 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some problems with risk measures will be shown in this paper. In particular, quantile-based risk measures, such as VaR and CVaR, cause either under or overestimation of risk for general distributions. This is an undesired problem from the point of view of a rational investor. A better risk measure is the Downside Risk.
Book Synopsis Psychological Perspectives on Risk and Risk Analysis by : Martina Raue
Download or read book Psychological Perspectives on Risk and Risk Analysis written by Martina Raue and published by Springer. This book was released on 2018-09-18 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative collection goes beyond economic statistics and probability data to offer a robust psychological understanding of risk perception and risk taking behavior. Expert contributors examine various risk domains in life, and pinpoint cognitive, emotional, and personality factors contributing to individual differences in risk taking as well as the many nuances social demographics (e.g., culture, gender) bring to risk decisions. Coverage takes competing theories and studies into account to identify mechanisms involved in processing and acting on uncertainty. And implications and applications are demonstrated in varied fields, from updated risk models for the insurance sector to improved risk communication in health services to considering risk perception in policy decisions. A sampling of the topics: Personality and risk: beyond daredevils—risk taking from a temperament perspective. Cognitive, developmental, and neurobiological aspects of risk judgments. The group effect: social influences on risk identification, analysis, and decision-making. Cognitive architectures as a scaffolding for risky choice models. Improving understanding of health-relevant numerical information. Risk culture as a framework for improving competence in risk management. Psychological Perspectives on Risk and Risk Analysis will be of great interest to researchers in and outside of psychology, including decision-making experts and behavioral economists. Additionally, this volume will appeal to practitioners who often have to make risky decisions, such as managers and physicians.
Book Synopsis Knowingly Taking Risk by : Ellen Gehner
Download or read book Knowingly Taking Risk written by Ellen Gehner and published by Eburon Uitgeverij B.V.. This book was released on 2008 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Philosophy and Design by : Pieter E. Vermaas
Download or read book Philosophy and Design written by Pieter E. Vermaas and published by Springer Science & Business Media. This book was released on 2007-12-05 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides the reader with an integrated overview of state-of-the-art research in philosophy and ethics of design in engineering and architecture. It contains twenty-five essays that focus on engineering designing in its traditional sense, on designing in novel engineering domains, and on architectural and environmental designing. This volume enables the reader to overcome the traditional separation between engineering designing and architectural designing.
Book Synopsis Risk Measurement by : Dominique Guégan
Download or read book Risk Measurement written by Dominique Guégan and published by Springer. This book was released on 2019-03-22 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines theory and practice to analyze risk measurement from different points of view. The limitations of a model depend on the framework on which it has been built as well as specific assumptions, and risk managers need to be aware of these when assessing risks. The authors investigate the impact of these limitations, propose an alternative way of thinking that challenges traditional assumptions, and also provide novel solutions. Starting with the traditional Value at Risk (VaR) model and its limitations, the book discusses concepts like the expected shortfall, the spectral measure, the use of the spectrum, and the distortion risk measures from both a univariate and a multivariate perspective.
Book Synopsis Comparative Risk Assessment by : Holger Schütz
Download or read book Comparative Risk Assessment written by Holger Schütz and published by John Wiley & Sons. This book was released on 2006-08-21 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing a catalogue of suggested solutions for different categories of issues, this book offers a balanced overview and methodological examples for the practical implementation of the CRA. It considers CRA in the USA, Europe and Germany, using case studies to analyze and exemplify the decision-making processes and challenges involved. The authors then go on to look at the practical lessons learned from these case studies, together with an in-depth discussion of the underlying scientific hypotheses. Sound scientific knowledge for everyone who makes decisions, whether government ministers, regulators, or company directors.
Book Synopsis Science and Judgment in Risk Assessment by : National Research Council
Download or read book Science and Judgment in Risk Assessment written by National Research Council and published by National Academies Press. This book was released on 1994-01-01 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: The public depends on competent risk assessment from the federal government and the scientific community to grapple with the threat of pollution. When risk reports turn out to be overblownâ€"or when risks are overlookedâ€"public skepticism abounds. This comprehensive and readable book explores how the U.S. Environmental Protection Agency (EPA) can improve its risk assessment practices, with a focus on implementation of the 1990 Clean Air Act Amendments. With a wealth of detailed information, pertinent examples, and revealing analysis, the volume explores the "default option" and other basic concepts. It offers two views of EPA operations: The first examines how EPA currently assesses exposure to hazardous air pollutants, evaluates the toxicity of a substance, and characterizes the risk to the public. The second, more holistic, view explores how EPA can improve in several critical areas of risk assessment by focusing on cross-cutting themes and incorporating more scientific judgment. This comprehensive volume will be important to the EPA and other agencies, risk managers, environmental advocates, scientists, faculty, students, and concerned individuals.
Book Synopsis The Failure of Risk Management by : Douglas W. Hubbard
Download or read book The Failure of Risk Management written by Douglas W. Hubbard and published by John Wiley & Sons. This book was released on 2020-02-26 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to adopting an accurate risk analysis methodology The Failure of Risk Management provides effective solutionstosignificantfaults in current risk analysis methods. Conventional approaches to managing risk lack accurate quantitative analysis methods, yielding strategies that can actually make things worse. Many widely used methods have no systems to measure performance, resulting in inaccurate selection and ineffective application of risk management strategies. These fundamental flaws propagate unrealistic perceptions of risk in business, government, and the general public. This book provides expert examination of essential areas of risk management, including risk assessment and evaluation methods, risk mitigation strategies, common errors in quantitative models, and more. Guidance on topics such as probability modelling and empirical inputs emphasizes the efficacy of appropriate risk methodology in practical applications. Recognized as a leader in the field of risk management, author Douglas W. Hubbard combines science-based analysis with real-world examples to present a detailed investigation of risk management practices. This revised and updated second edition includes updated data sets and checklists, expanded coverage of innovative statistical methods, and new cases of current risk management issues such as data breaches and natural disasters. Identify deficiencies in your current risk management strategy and take appropriate corrective measures Adopt a calibrated approach to risk analysis using up-to-date statistical tools Employ accurate quantitative risk analysis and modelling methods Keep pace with new developments in the rapidly expanding risk analysis industry Risk analysis is a vital component of government policy, public safety, banking and finance, and many other public and private institutions. The Failure of Risk Management: Why It's Broken and How to Fix It is a valuable resource for business leaders, policy makers, managers, consultants, and practitioners across industries.
Book Synopsis Megaprojects and Risk by : Bent Flyvbjerg
Download or read book Megaprojects and Risk written by Bent Flyvbjerg and published by Cambridge University Press. This book was released on 2003-02-13 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is a fascinating account of how the promoters of multi-billion dollar megaprojects systematically and self-servingly misinform parliaments, the public and the media in order to get projects approved and built. It shows, in unusual depth, how the formula for approval is an unhealthy cocktail of underestimated costs, overestimated revenues, undervalued environmental impacts and overvalued economic development effects. This results in projects that are extremely risky, but where the risk is concealed from MPs, taxpayers and investors. The authors not only explore the problems but also suggest practical solutions drawing on theory, experience and hard, scientific evidence from the several hundred projects in twenty nations and five continents that illustrate the book. Accessibly written, it will be the standard reference for students, scholars, planners, economists, auditors, politicians and interested citizens for many years to come.
Book Synopsis Childhood Injuries in the United States by :
Download or read book Childhood Injuries in the United States written by and published by . This book was released on 1990 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Risk and Uncertainty by : Svetlozar T. Rachev
Download or read book Risk and Uncertainty written by Svetlozar T. Rachev and published by John Wiley & Sons. This book was released on 2011-04-22 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced Stochastic Models, Risk Assessment, and Portfolio Optimization The finance industry is seeing increased interest in new risk measures and techniques for portfolio optimization when parameters of the model are uncertain. This groundbreaking book extends traditional approaches of risk measurement and portfolio optimization by combining distributional models with risk or performance measures into one framework. Throughout these pages, the expert authors explain the fundamentals of probability metrics, outline new approaches to portfolio optimization, and discuss a variety of essential risk measures. Using numerous examples, they illustrate a range of applications to optimal portfolio choice and risk theory, as well as applications to the area of computational finance that may be useful to financial engineers. They also clearly show how stochastic models, risk assessment, and optimization are essential to mastering risk, uncertainty, and performance measurement. Advanced Stochastic Models, Risk Assessment, and Portfolio Optimization provides quantitative portfolio managers (including hedge fund managers), financial engineers, consultants, and academic researchers with answers to the key question of which risk measure is best for any given problem.
Book Synopsis The Ethics of Screening in Health Care and Medicine by : Niklas Juth
Download or read book The Ethics of Screening in Health Care and Medicine written by Niklas Juth and published by Springer Science & Business Media. This book was released on 2011-09-20 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medical or health-oriented screening programs are amongst the most debated aspects of health care and public health practices in health care and public health ethics, as well as health policy discussions. In spite of this, most treatments of screening in the research literature restrict themselves to isolated scientific aspects, sometimes complemented by economic analyses or loose speculations regarding policy aspects. At the same time, recent advances in medical genetics and technology, as well as a rapidly growing societal focus on public health concerns, inspires an increase in suggested or recently started screening programs. This book involves an in-depth analysis of the ethical, political and philosophical issues related to health-oriented screening programs. It explores the considerations that arise when heath care interacts with other societal institutions on a large scale, as is the case with screening: What values may be promoted or compromised by screening programs? What conflicts of values do typically arise – both internally and in relation to the goals of health care, on the one hand, and the goals of public health and the general society, on the other? What aspects of screening are relevant for determining whether it should be undertaken or not and how it should be organised in order to remain defensible? What implications does the ethics of screening have for health care ethics as a whole? These questions are addressed by applying philosophical methods of conceptual analysis, as well as models and theories from moral and political philosophy, medical ethics, and public health ethics, to a large number of ongoing and proposed screening programs which makes this book the first comprehensive work on the ethics of screening. Analyses and suggestions are made that are of potential interest to health care staff, medical researchers, policy makers and the general public.
Book Synopsis Journal of the National Cancer Institute by :
Download or read book Journal of the National Cancer Institute written by and published by . This book was released on 2003 with total page 1036 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis RISK21 - Coping with Risks due to Natural Hazards in the 21st Century by : Walter J. Ammann
Download or read book RISK21 - Coping with Risks due to Natural Hazards in the 21st Century written by Walter J. Ammann and published by CRC Press. This book was released on 2006-08-17 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last two decades, there has been an increase in the number of natural hazards which have culminated in catastrophic consequences, severely impacting on people and livelihoods. In response to this escalation, the Swiss Natural Hazards Competence Centre (CENAT) organized a workshop entitled "RISK21" at the Centro Stefano Franscini, Mon
Author :Committee to Assess Health Risks from Exposure to Low Levels of Ionizing Radiation Publisher :National Academies Press ISBN 13 :0309133343 Total Pages :422 pages Book Rating :4.3/5 (91 download)
Book Synopsis Health Risks from Exposure to Low Levels of Ionizing Radiation by : Committee to Assess Health Risks from Exposure to Low Levels of Ionizing Radiation
Download or read book Health Risks from Exposure to Low Levels of Ionizing Radiation written by Committee to Assess Health Risks from Exposure to Low Levels of Ionizing Radiation and published by National Academies Press. This book was released on 2006-03-23 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the seventh in a series of titles from the National Research Council that addresses the effects of exposure to low dose LET (Linear Energy Transfer) ionizing radiation and human health. Updating information previously presented in the 1990 publication, Health Effects of Exposure to Low Levels of Ionizing Radiation: BEIR V, this book draws upon new data in both epidemiologic and experimental research. Ionizing radiation arises from both natural and man-made sources and at very high doses can produce damaging effects in human tissue that can be evident within days after exposure. However, it is the low-dose exposures that are the focus of this book. So-called “late” effects, such as cancer, are produced many years after the initial exposure. This book is among the first of its kind to include detailed risk estimates for cancer incidence in addition to cancer mortality. BEIR VII offers a full review of the available biological, biophysical, and epidemiological literature since the last BEIR report on the subject and develops the most up-to-date and comprehensive risk estimates for cancer and other health effects from exposure to low-level ionizing radiation.
Book Synopsis Environmental Protection Agency by :
Download or read book Environmental Protection Agency written by and published by . This book was released on 2001 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Thinking and Deciding by : Jonathan Baron
Download or read book Thinking and Deciding written by Jonathan Baron and published by Cambridge University Press. This book was released on 2000-12-28 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thinking and Deciding has established itself as a required text and important reference work for students and scholars of human cognition and rationality. In this, the third edition, Jonathan Baron delves further into many of the key questions addressed in the previous editions. For example, how should we think? What, if anything, keeps us from thinking that way? How can we improve our thinking and decision making? Baron has also revised or expanded his treatment of topics such as risk, utilitarianism, Baye's theorem, moral thinking, trust, utility measurement, and decision analysis and values. By emphasizing decision making, Baron has made Thinking and Deciding, Third Edition more relevant to researchers in applied fields, such as medicine, business, public policy, and law, while maintaining its appeal to graduate and undergraduate students.
