Praise for Risk Transfer
"Culp’s book is a masterly account of the economics of risk and the development of derivatives. It is not only soundly based in theory but it serves as a splendid practical guide to the multiplicity of traded risks in the financial markets."
–Sir Alan Walters, Chief Economic Advisor to Margaret Thatcher (1980-85 and 1989) and former Vice Chairman, AIG Trading Group (1990-2000)
"As always, Chris Culp makes me rethink things I thought I already understood. The idea he champions in this book–that derivatives can be viewed through the lens of an asset lending instrument–helps in understanding the behavior of the producers and users of derivatives. And Culp’s historical notes add color to the tapestry of risk management."
–Charles Smithson, Managing Director, Rutter Associates
"Derivatives are the highest financial life form on the planet, and Culp does a great job of explaining why. I was especially delighted by Chapter 2, which traces the way we think about risk and uncertainty from Adam Smith (who would have taught at the University of Chicago if he had been born later), through Frank Knight and Bob Lucas. It is a great reminder of why we study economics in the first place. Well done."
–Galen Burghardt, Director of Research, Carr Futures
"Chris Culp’s Risk Transfer is an important addition to the literature on derivatives, and not just because it successfully bridges theory and practice. The presentation of the underlying economic thought and academic literature relevant to the broader issues of how we view and treat risk in the economy and in the business world is excellent. It’s what makes this new book unique and valuable."
–Wendy L. Gramm, Chairman of Regulatory Studies
Mercatus Center, George Mason University
"Culp’s book explains the role derivatives play in our financial system as an invaluable tool for risk transfer in the marketplace. He takes the reader from the macro aspects of derivatives through detailed modern theories, in addition to offering a practical perspective on speculation and hedging. This book is essential for every derivatives professional."
–Dennis A. Dutterer, President and CEO, The Clearing Corporation Это и многое другое вы найдете в книге Risk Transfer: Derivatives in Theory and Practice (Christopher L. Culp)