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Should risk management be an objective-quantifiable science

Assignment:

Please, respond in 250 words

Do you believe that there should be a behavioral economic approach to risk management to account for predictable but irrational behavior of humans as discussed at pp. 1062 - 1065 of the textbook? Or should risk management be an objective and quantifiable science? Why or why not?

Readings:

The Law of Governance, Risk Management and Compliance

By Wolters Kluwer

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Risk Management: Should risk management be an objective-quantifiable science

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