Exact(60)
On the technical side, further work could explore the use of alternative modelling approaches including dependent competing risk models.
Taleb is characteristically vituperative about the quantitative risk models, which try to model something that defies modelization.
In short, the risk models added to systemic risk.
"Obviously, we are big proponents of risk models," he said.
Catastrophes that risk models somehow always manage to miss.
This explains how the risk models made the entire system more risky.
The risk models that were commonly used on Wall Street failed abysmally.
Theoretical risk models need to be able to handle multidimensional and interdependent hazards.
Which didn't mean you couldn't use risk models to sniff out risks.
Finally, the role of refined risk models is discussed.
Calibrated risk models are vital for valid decision support.
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