The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can't) Do about It
Language: English
Published by Yale University Press, 2022
- Hardcover
- Used
Seller: World of Books Inc, Montgomery, IL, U.S.A.World of Books Inc
AbeBooks seller since March 23, 2026
Condition: Used - Very good
US$ 10.94
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Add to basketItem description from seller
A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to fail.
Seller Inventory # CIN0300234813VG
- Title
- The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can't) Do about It
- Author
- Jon Danielsson
- Publisher
- Yale University Press
- Publication year
- 2022
- Condition
- Very Good
- Binding
- Hardback
- Language
- English
- ISBN 10
- 0300234813
- ISBN 13
- 9780300234817
Finance plays a key role in the prosperity of the modern world, but it also brings grave dangers. We seek to manage those threats with a vast array of sophisticated mathematical tools and techniques of financial risk management. Too often, though, we fail to address the greatest risk—the peril posed by our own behavior.
Jón Daníelsson argues that critical risk is generated from within, through the interactions of individuals and perpetuated by their beliefs, objectives, abilities, and prejudices. He asserts that the widespread belief that risk originates outside the financial system frustrates our ability to measure and manage it, and the likely consequences of new regulations will help alleviate small-scale risks but, perversely, encourage excessive risk taking. Daníelsson uses lessons from past and recent crises to show that diversity is the best way to safeguard our financial system.
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World of Books Inc
Montgomery, IL, U.S.A.
AbeBooks seller since March 23, 2026
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