counter create hit Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next - Monday, April 22, 2013 - Download Free eBook
Ads Banner
Hot Best Seller

Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next - Monday, April 22, 2013

Availability: Ready to download

Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next. Monday, April 22, 2013 Dear Member, I really enjoyed this paper from the Financial Conduct Authority in UK with title: "Applying behavioural economics at the Financial Conduct Authority" WOW! Now I know what was missing from the Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next. Monday, April 22, 2013 Dear Member, I really enjoyed this paper from the Financial Conduct Authority in UK with title: "Applying behavioural economics at the Financial Conduct Authority" WOW! Now I know what was missing from the old FSA! They deserved to die. I love behavioural economics. This is one of the few areas we can explain that everybody (outside the financial services industry of course) is too stupid or has lost his mind, so it is not likely to understand what we do. My summary of the paper: A fool and his money are soon parted. It is science, of course. And, it is a really excellent paper, and you should study it. It could become the manual for every expert witness in the financial services. All the good excuses are there. It this paper, one of the questions is: Why consumer choice in retail financial products and services is particularly prone to errors? Some answers: 1. Many products are inherently complex for most people. {My understanding: Most people are too small, too poor, too stupid}. To add insult to the injury the paper continues: "Faced with complexity, consumers can simplify decisions in ways that lead to errors, such as focusing only on headline rates" 2. Decisions may require assessing risk and uncertainty. People are generally bad (even terrible) intuitive statisticians and are prone to making systematic errors in decisions involving uncertainty. {My understanding: People are generally bad (even terrible) statisticians, ok, but can statistician predict the future using the "history repeats itself" assumption?} 3. Some products permit little learning from past mistakes. {My understanding: Even when people can learn from past mistakes in the financial markets, we can always make different mistakes.} Read more (about how not to exploit continuously the fact that the others are stupid) at Number 2. Again, it is an excellent paper.


Compare
Ads Banner

Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next. Monday, April 22, 2013 Dear Member, I really enjoyed this paper from the Financial Conduct Authority in UK with title: "Applying behavioural economics at the Financial Conduct Authority" WOW! Now I know what was missing from the Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next. Monday, April 22, 2013 Dear Member, I really enjoyed this paper from the Financial Conduct Authority in UK with title: "Applying behavioural economics at the Financial Conduct Authority" WOW! Now I know what was missing from the old FSA! They deserved to die. I love behavioural economics. This is one of the few areas we can explain that everybody (outside the financial services industry of course) is too stupid or has lost his mind, so it is not likely to understand what we do. My summary of the paper: A fool and his money are soon parted. It is science, of course. And, it is a really excellent paper, and you should study it. It could become the manual for every expert witness in the financial services. All the good excuses are there. It this paper, one of the questions is: Why consumer choice in retail financial products and services is particularly prone to errors? Some answers: 1. Many products are inherently complex for most people. {My understanding: Most people are too small, too poor, too stupid}. To add insult to the injury the paper continues: "Faced with complexity, consumers can simplify decisions in ways that lead to errors, such as focusing only on headline rates" 2. Decisions may require assessing risk and uncertainty. People are generally bad (even terrible) intuitive statisticians and are prone to making systematic errors in decisions involving uncertainty. {My understanding: People are generally bad (even terrible) statisticians, ok, but can statistician predict the future using the "history repeats itself" assumption?} 3. Some products permit little learning from past mistakes. {My understanding: Even when people can learn from past mistakes in the financial markets, we can always make different mistakes.} Read more (about how not to exploit continuously the fact that the others are stupid) at Number 2. Again, it is an excellent paper.

0 review for Top 10 risk and compliance management related news stories and world events that (for better or for worse) shaped the week's agenda, and what is next - Monday, April 22, 2013

Add a review

Your email address will not be published. Required fields are marked *

Loading...
We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy.