The Known, the Unknown, and the Unknowable in Financial Risk Management: Measurement and Theory Advancing Practice by Richard J. Herring, Francis X. Diebold, Neil A. Doherty

The Known, the Unknown, and the Unknowable in Financial Risk Management: Measurement and Theory Advancing Practice

Richard J. Herring, Francis X. Diebold, Neil A. Doherty

380 pages • first pub 2010 (editions)

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A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or VaR--reduces these risks to a single number, cr...

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