We as humans are prone to a variety of wired-in cognitive mistakes in the way we interpret and react to risk-related information. This is highly consequential since the cognitive biases managers are exposed to in their day-to-day business erode the objectivity of their risk-related decisions, which ultimately hurts the financial well-being of their firms. This book seeks to develop risk literacy as a leadership skill. It helps managers develop the skills to improve managerial decision-making in regards to managing risk.

The last decades have offered various insights into how human nature often gets in the way of rational decision-making. This book is a valuable resource for insurance executives, chief risk officers, company leaders, and graduate students of risk management and risk psychology. It is the first behavioral risk management guide for managers and other interested readers - using examples from economic theory, behavioral finance, and game theory, it studies the hiddenforces that drive our decision-making processes under risk.

Author: Annette Hofmann
Binding Type: Paperback
Publisher: Springer
Published: 02/21/2023
Series: Future of Business and Finance
Pages: 182
Weight: 0.61lbs
Size: 9.21h x 6.14w x 0.41d
ISBN: 9783030887995
2022 Edition

About the Author

Annette Hofmann is the Academic Director of the Carl H. Lindner III Center for Insurance and Risk Management at the University of Cincinnati. She has authored numerous academic articles on risk management topics.