Hersh Shefrin : Recently Published: Behavioral Risk Management
Hersh Shefrin, Mario L. Belotti Professor of Finance, published a new book titled “Behavioral Risk Management” in December of 2015.
This book argues that the most important risk management disasters in the preceding fifteen years all have psychological pitfalls at their root. Examples abound: the global financial crisis, the nuclear meltdown at Fukushima Daiichi in Japan which led that country to close down all of its nuclear power plants for several years, the BP Deepwater Horizon disaster in the Gulf of Mexico, and the WHO's late response to the Ebola epidemic that erupted in 2014. Collectively, the examples in the book illustrate a series of do's and don'ts for addressing psychological issues in risk management.
Updates to the published version can be found at this link.
Learn more about Professor Hersh Shefrin.