andreweverett360 Book Review, risk

Risk Savvy: How to Make Good Decisions

Risk Savvy: How to Make Good Decisions

by Gerd Gigerenzer

Gigerenzer makes a distinction between risk and uncertainty. He uses the term risk “for a world where all alternatives, consequences, and probabilities are known… Most of the time, however, we live in a changing world where some of these are unknown: where we face unknown risks, or uncertainty. The world of uncertainty is huge compared to that of risk… We have to deal with ‘unknown unknowns.’”

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andreweverett360 Book Review, risk

Risk: Why We Fear the Things We Shouldn’t

Risk: Why We Fear the Things We Shouldn’t—and Put Ourselves in Greater Danger

by Dan Gardner

“One of the most consistent findings of risk perception research is that we overestimate the likelihood of being killed by the things that make the evening news and underestimate those that don’t. What makes the evening news? The rare, vivid, and catastrophic killers. Murder, terrorism, fire, and flood. What doesn’t make the news is the routine cause of death that kills one person at a time and doesn’t lend itself to strong emotions and pictures. Diabetes, asthma, heart disease.”  Continue reading “Risk: Why We Fear the Things We Shouldn’t” →

andreweverett360 Book Review, risk

Rethinking Risk Management: Critically Examining Old Ideas and New Concepts

Rethinking Risk Management: Critically Examining Old Ideas and New Concepts

by Rick Nason

Rick Nason challenges the status quo of risk management which mindlessly follows third-party frameworks and does too little independent thinking. He argues that risk management acts as “The Department of No” while ignoring upside risk. He envisions risk management as a strategic player in value creation rather than a cost center. Continue reading “Rethinking Risk Management: Critically Examining Old Ideas and New Concepts” →