Understanding and managing model risk : a practical guide for quants, traders and validators / Massimo Morini. [electronic resource] Morini, Massimo. Risk management. Risk management Mathematical models. HD61 .M67 2011eb 332.64/5 23 Includes bibliographical references and index. Print version record. "A guide to the validation and risk management of quantitative models used for pricing and hedging. Whereas the majority of quantitative finance books focus on mathematics and risk management books focus on regulatory aspects, this book addresses the elements missed by this literature--the risks of the models themselves. This book starts from regulatory issues, but translates them into practical suggestions to reduce the likelihood of model losses, basing model risk and validation on market experience and on a wide range of real-world examples, with a high level of detail and precise operative indications"-- Provided by publisher. "Understanding and Managing Model Risk is a guide to the validation and risk management of quantitative models used for pricing and hedging"-- Provided by publisher. Chichester, West Sussex : Wiley, 2011. 2011. 2011 Text 1 online resource (xx, 428 pages) : http://onlinelibrary.wiley.com/book/10.1002/9781118467312 eng Wiley finance series Wiley finance series. Understanding and managing model risk. Understanding and managing model risk.