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What I'm Reading

1114whatimreading busse roger color250pxRoger Busse | COO, Pacific Continental Bank

“My recent readings have focused on academic research in risk analysis. Making risk decisions is something we do at Pacific Continental every day. Understanding our own perceptions and biases of risk, as well as human response to risk situations, can break down barriers of communication between clients and bankers, allowing us to be more consultative. One of the reasons our bank weathered the recession was because we were committed to knowing our clients and the perilous risks we both faced.”

 

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Risk as Analysis and Risk as Feelings
By Paul Slovic

“Some of the best research on the subject is found in the writings of Dr. Paul Slovic, president of Decision Research and a University of Oregon professor. This article demonstrates that while there are ‘analytical systems’ available for risk decisions, we mostly base our decisions on our ‘experiential system’: our intuitive risk response from our personal encounters and previous risk experiences. From the article’s executive summary: ‘Studies have demonstrated that analytic reasoning cannot be effective unless it is guided by emotion and affect. Rational decision making requires proper integration of both modes of thought.’”

 
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Surveying the Risk-Assessment Battlefield
By Paul Slovic

“A second article by Dr. Slovic argues that danger and threats are certainly real and pervasive, but that assessment of risk is fluid and there is no real fixed measure of risk. Further, Dr. Slovic contends that risk assessment is a very subjective phenomenon and is greatly influenced by many factors from the concrete, like science and experience,  to the more esoteric, like feelings, cultural norms and political beliefs.” 


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