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The Hidden Danger of Being Risk-Averse

Harvard Business Review

JULY 2, 2013

People are generally not all that happy about risk. Amos Tversky and I] concluded from many such observations that ''losses loom larger than gains'' and that people are loss averse.". Incidentally, Iksil was head of the Chief Investment Office, the purpose of which is to protect the bank by hedging some of its other riskier bets.

Kahneman 8
Kahneman Tversky Hedge Banking 8
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Instinct Can Beat Analytical Thinking

Harvard Business Review

JUNE 20, 2014

This popular triumph of the “ heuristics and biases ” literature pioneered by psychologists Daniel Kahneman and Amos Tversky has made us aware of flaws that economics long glossed over, and led to interesting innovations in retirement planning and government policy. If only that would be true — then they could calculate the risks.

Uncertainty 10
Uncertainty Kahneman Banking System 10
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