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Erschienen in:
2016 | OriginalPaper | Buchkapitel
Risk Management Profiles: Con Ed, BP, and MMS
verfasst von : Hersh Shefrin
Erschienen in: Behavioral Risk Management
Verlag: Palgrave Macmillan US
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Consolidated Edison (Con Ed) is a utility, and BP IS an energy company. Both are large firms that face large risks. This chapter uses the risk frameworks presented previously in the book to analyze and contrast the experiences of these firms in dealing with outliers, meaning rare and extreme events. For Con Ed, the rare event was Hurricane Sandy, which in 2012 struck the Eastern seaboard, including New York. For BP, the rare event was the explosion of the drilling rig Deepwater Horizon, which took place in the Gulf of Mexico in 2010.