Self-Deception – Modeling “Unknown Unknowns”
Introduction
Fundamental uncertainties derive from our fragmentary understanding of risk and complex system dynamics and interdependencies. Abundant stochastic variation in risk parameters further exacerbates the ability to clearly assess uncertainties.
Uncertainty is not just a single dimension, but also surrounds the potential impacts of forces such as globalization and decentralization, effects of movements of global markets and trade regimes, and
One of the most concerning trends that continually persists in operational risk management, is the lack of interest from analysts to attempt to quantify this risk exposure coherently.
In this blog we look operational risk from the perspective of the normal and the extreme.
The GlobalRisk Community is a thriving community of risk managers and associated service providers. Our purpose is to foster business, networking and educational explorations among members. Our goal is to be the worlds premier Risk forum and contribute to better understanding of the complex world of risk.
For companies wanting to create a greater visibility for their products and services among their prospects in the Risk market: Send your business partnership request by filling in the form here!
