{"product_id":"bayesian-risk-management-matt-sekerke-9781118708606","title":"Bayesian Risk Management: A Guide to Model Risk and Sequential Learning in Financial Markets","description":"\u003cb\u003eA risk measurement and management framework that takes model risk seriously\u003c\/b\u003e \u003cp\u003eMost financial risk models assume the future will look like the past, but effective risk management depends on identifying fundamental changes in the marketplace as they occur. \u003ci\u003eBayesian Risk Management\u003c\/i\u003e details a more flexible approach to risk management, and provides tools to measure financial risk in a dynamic market environment. This book opens discussion about uncertainty in model parameters, model specifications, and model-driven forecasts in a way that standard statistical risk measurement does not. And unlike current machine learning-based methods, the framework presented here allows you to measure risk in a fully-Bayesian setting without losing the structure afforded by parametric risk and asset-pricing models. \u003c\/p\u003e\u003cul\u003e \u003cli\u003eRecognize the assumptions embodied in classical statistics\u003c\/li\u003e \u003cli\u003eQuantify model risk along multiple dimensions without backtesting\u003c\/li\u003e \u003cli\u003eModel time series without assuming stationarity\u003c\/li\u003e \u003cli\u003eEstimate state-space time series models online with simulation methods\u003c\/li\u003e \u003cli\u003eUncover uncertainty in workhorse risk and asset-pricing models\u003c\/li\u003e \u003cli\u003eEmbed Bayesian thinking about risk within a complex organization\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIgnoring uncertainty in risk modeling creates an illusion of mastery and fosters erroneous decision-making. Firms who ignore the many dimensions of model risk measure too little risk, and end up taking on too much. \u003ci\u003eBayesian Risk Management\u003c\/i\u003e provides a roadmap to better risk management through more circumspect measurement, with comprehensive treatment of model uncertainty.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Matt Sekerke\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1118708601\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781118708606\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Wiley\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/15\/2015\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 240\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.95lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.10h x 6.10w x 1.10d\u003c\/p\u003e","brand":"Matt Sekerke","offers":[{"title":"Hardcover","offer_id":44491499208959,"sku":"9781118708606","price":95.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_44224d12-b6df-43db-a859-d0f8802f3b01.jpg?v=1699451542","url":"https:\/\/www.whiterainbookhouse.com\/products\/bayesian-risk-management-matt-sekerke-9781118708606","provider":"WR Book House","version":"1.0","type":"link"}