Abstract
If risk management were a game of tennis, then a forehand would correspond to the quantitative side and a backhand would correspond to the psychological side. The cumulative message from all the applications discussed in this book is that, although risk managers tend to run around their backhands, they can develop a more balanced game.
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Notes
See René Stulz (2009), “Six Ways Companies Mismanage Risk,” Harvard Business Review 87 (3): 86–94, https://hbr.org/2009/03/six-ways-companies
See Chip Heath and Dan Heath (2010), Switch: How to Change Things When Change is Hard (New York: Broadway Books).
See Edith Orenstein (2015), “The Color of Risk,” Financial Executive 3 (1): 30–36. Also see the PwC series Get Up to Speed on Risk Management Issues with its ten-step “How to Tackle It” risk management framework written by Bob Semple.
See Chip Heath, Richard Larrick, and Joshua Klayman (1998), “Cognitive Repairs: How Organizational Practices Can Compensate for Individual Shortcomings,” Research in Organizational Behavior 20: 1–37.
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© 2016 Hersh Shefrin
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Shefrin, H. (2016). Conclusion. In: Behavioral Risk Management. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137445629_20
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DOI: https://doi.org/10.1057/9781137445629_20
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-349-55420-1
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