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Assessing Risk Assessment

Towards Alternative Risk Measures for Complex Financial Systems

  • Christian Hugo Hoffmann

Table of contents

  1. Front Matter
    Pages i-xiv
  2. Christian Hugo Hoffmann
    Pages 1-19
  3. Concepts, Model Level and Risk Assessment

    1. Front Matter
      Pages 21-21
    2. Christian Hugo Hoffmann
      Pages 23-24
    3. Christian Hugo Hoffmann
      Pages 73-74
    4. Christian Hugo Hoffmann
      Pages 103-121
    5. Christian Hugo Hoffmann
      Pages 187-194
  4. The Transition to the Decision Level, Risk Assessment and Management

    1. Front Matter
      Pages 195-195
    2. Christian Hugo Hoffmann
      Pages 197-198
    3. Christian Hugo Hoffmann
      Pages 199-204
  5. In Search of a New Paradigm: The Third Way as a Road to Logic-Based Risk Modeling (LBR)

    1. Front Matter
      Pages 223-223
    2. Christian Hugo Hoffmann
      Pages 225-229
    3. Christian Hugo Hoffmann
      Pages 279-290
    4. Christian Hugo Hoffmann
      Pages 291-296
    5. Christian Hugo Hoffmann
      Pages 297-302
    6. Christian Hugo Hoffmann
      Pages 303-319
  6. Meta Level: Thinking about Thinking and Practices – What it Means to Reach Effective Risk Management Decisions

    1. Front Matter
      Pages 321-321
    2. Christian Hugo Hoffmann
      Pages 323-324
    3. Christian Hugo Hoffmann
      Pages 339-343
  7. Back Matter
    Pages 345-377

About this book

Introduction

Christian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants’ own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.

Contents
  • Concepts, Model Level and Risk Assessment
  • The Transition to the Decision Level, Risk Assessment and Management
  • In Search of a New Paradigm: The Third Way as a Road to Logic-Based Risk Modeling (LBR)
  • Meta Level: Thinking about Thinking and Practices – What it Means to Reach Effective Risk Management Decisions

Target Groups
  • Researchers, academics, and students in the fields of finance and management
  • Risk professionals, consultants, analysts, politicians in the fields of economic and financial policy

The Author
Christian Hugo Hoffmann completed his doctoral studies at the University of St. Gallen and Yale University. He co-founded a financial risk management start-up which translates these theoretical results into practical impact.  

Keywords

Risk Modeling Systemic Risk in Banking Contexts Logic Based Risk Management LBR Ranking Theory Monads Functional Programming Probabilities

Authors and affiliations

  • Christian Hugo Hoffmann
    • 1
  1. 1.KreuzlingenSwitzerland

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-658-20032-9
  • Copyright Information Springer Fachmedien Wiesbaden GmbH 2017
  • Publisher Name Springer Gabler, Wiesbaden
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-658-20031-2
  • Online ISBN 978-3-658-20032-9
  • Buy this book on publisher's site