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"Path Dependence & Risk in Finance" explores how past decisions and historical trends can lock financial markets and institutions into specific behaviors, even when better options emerge. This "path dependence" creates blind spots and skews traditional risk assessment. The book delves into how to identify and measure risk that considers this historical influence, helping investors and financial professionals make more informed choices in an ever-changing financial landscape.
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"Path Dependence & Risk in Finance" explores how past decisions and historical trends can lock financial markets and institutions into specific behaviors, even when better options emerge. This "path dependence" creates blind spots and skews traditional risk assessment. The book delves into how to identify and measure risk that considers this historical influence, helping investors and financial professionals make more informed choices in an ever-changing financial landscape.