Titlebook: Risk and Financial Catastrophe; Erik Banks Book 2009 Palgrave Macmillan, a division of Macmillan Publishers Limited 2009 management.Risk M

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The Risk Management Processare needed to guide risky behaviors. Of course, many aspects of the framework are also employed by nonfi-nancial corporations so that they, too, have some way of gaining control of their risky activities.

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Catastrophesh follows in the coming chapters, we begin by considering in detail the essential characteristics of natural and man-made catastrophes. Since our ultimate interest is on financial catastrophes, we are not particularly concerned with natural phenomena such as hurricanes and earthquakes, or even with

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Models, Metrics, and Limitationstent approach to portfolio and exposure management. While the subjective and qualitative dimensions of risk management are critical (and are unfortunately sometimes sacrificed in favor of purely quantitative approaches), some form of numeric evaluation is necessary. In fact, stochastic processes (fo

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