Required reading

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It is rare that social scientists have the chance to conduct controlled experiments, and the same holds true for risk managers. In the past 12 months, we have probably come as close as possible to observing such an experiment, utterly unplanned as it was. Earlier this year, a group of eight financial supervisors from five countries undertook a preliminary assessment of lessons to be drawn from recent painful events. This was published in March in a 20-page overview entitled Observations on risk