IDEAS home Printed from https://ideas.repec.org/p/chf/rpseri/rp1630.html
   My bibliography  Save this paper

Risk and Resilience Management in Social-Economic Systems

Author

Listed:
  • Tatyana Kovalenko

    (ETH Zurich)

  • Didier Sornette

    (Swiss Finance Institute; ETH Zürich - Department of Management, Technology, and Economics (D-MTEC))

Abstract

We provide a roadmap to understand and develop resilience, based on the realisation that resilience is the complement of risk, both being associated to the stresses supported by the socio-economic system. We propose instruments for resilience build-up and management based on a novel classification of risk and resilience management regimes corresponding to the system’s degree of uncertainty/predictability and stress level within it. Four main quadrants are identified: Ad hoc management, Adaptive management, the Black swan regime and the Dragon-king regime. An annotated bibliography is also provided.

Suggested Citation

  • Tatyana Kovalenko & Didier Sornette, 2016. "Risk and Resilience Management in Social-Economic Systems," Swiss Finance Institute Research Paper Series 16-30, Swiss Finance Institute.
  • Handle: RePEc:chf:rpseri:rp1630
    as

    Download full text from publisher

    File URL: http://ssrn.com/abstract=2775264
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Spencer Wheatley & Annette Hofmann & Didier Sornette, 2021. "Addressing insurance of data breach cyber risks in the catastrophe framework," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(1), pages 53-78, January.

    More about this item

    Keywords

    Resilience; risk; stress; uncertainty; predictability; dynamics; exogenous; endogenous; adaptive management; black swan; dragon-king;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:chf:rpseri:rp1630. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/fameech.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ridima Mittal (email available below). General contact details of provider: https://edirc.repec.org/data/fameech.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.