|Publication type:||Conference other|
|Type of review:||No review|
|Title:||Financial risk management and its behavioral pitfalls : an introduction|
|Conference details:||Financial risk management and its behavioral pitfalls : an introduction, Shanghai, China, 17 July 2019|
|Subject (DDC):||332.6: Investment |
658.1: Organization and finance
|Abstract:||Tens of thousands of years of evolution have made man an excellent risk manager. Unfortunately, mankind’s genetically encoded risk management fails in finance – and most spectacularly so. In fact, it turns out that man is very able to manage intuitively most everyday risks – and actually does so on a daily basis – while he is not prepared at all to handle financial risks. The reason for this is our behavioral conditioning which is on a fundamental level at odds with the statistical implications of risk in finance. Behavioral Finance addresses this very basic disconnect between mankind’s genomic imprinting and financial risk management, illustrating possible solutions to avoid the pitfalls associated with it. In this seminar, we will introduce risk in general and contrast it to risk in finance. For both “kinds” of risk, we will outline how man manages them. Finally, we will discuss the behavioral biases most important in finance and understand their origin as well as ways to overcome them.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Organisational Unit:||Institute of Wealth & Asset Management (IWA)|
|Appears in collections:||Publikationen School of Management and Law|
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