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Risk: Difference between revisions
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*{{risk|Market}} | *{{risk|Market}} | ||
**The {{risk|firm}} | **The {{risk|firm}} | ||
**{{risk|Government}} | |||
==={{risk|Prisoner’s dilemma}}=== | ==={{risk|Prisoner’s dilemma}}=== | ||
==={{risk|Cooperation}}=== | ==={{risk|Cooperation}}=== | ||
*{{risk|Transaction}} | *{{risk|Transaction}} | ||
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*[[Complexity]] | *[[Complexity]] | ||
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:::(i) Don’t cleave to the organisational structure much less the firm’s own division of responsibility for risk management, which is based on stables from which horses have already bolted<br> | :::(i) Don’t cleave to the organisational structure much less the firm’s own division of responsibility for risk management, which is based on stables from which horses have already bolted<br> | ||
:::(ii) Therefore susceptible to present in different areas of risk management – the same risk might be partly legal, partly credit, partly market risk. Each in isolation may be containable, but combined effect less so<br> | :::(ii) Therefore susceptible to present in different areas of risk management – the same risk might be partly legal, partly credit, partly market risk. Each in isolation may be containable, but combined effect less so<br> | ||
===Form over substance=== | ===Form over substance=== | ||
:(a) Burgeoning complexity means a preference for substance over form<br> | :(a) Burgeoning complexity means a preference for substance over form<br> | ||