國立高雄大學圖資館 |

登入

回首頁

Delusions of competencethe near-death of Lloyd's of London 1970-2002 /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Delusions of competenceby Robin Pearson.
其他題名:	the near-death of Lloyd's of London 1970-2002 /
作者:	Pearson, Robin.
出版者:	Cham :Springer International Publishing :2022.
面頁冊數:	xi, 136 p. :ill., digital ;24 cm.
Contained By:	Springer Nature eBook
標題:	InsuranceHistory20th century.England
電子資源:	https://doi.org/10.1007/978-3-030-94088-1
ISBN:	9783030940881$q(electronic bk.)

Delusions of competencethe near-death of Lloyd's of London 1970-2002 /
Pearson, Robin.

Delusions of competencethe near-death of Lloyd's of London 1970-2002 /[electronic resource] :by Robin Pearson. - Cham :Springer International Publishing :2022. - xi, 136 p. :ill., digital ;24 cm. - Palgrave studies in economic history,2662-6500. - Palgrave studies in economic history..

Chapter 1: Introduction -- Chapter 2: Lloyd's: its history and business practices -- Chapter 3: Lloyd's people: their social composition and political economy -- Chapter 4: Expansion, scandals and frauds - Lloyd's in the 1970s -- Chapter 5: The first reforms and public scrutiny -- Chapter 6: The school for scandals -- Chapter 7: Liability crisis, LMX spiral and collapse -- Chapter 8: Reform, survival and recovery -- Chapter 9: Conclusions - delusions of competence -- Chapter 10: Epilogue - Lloyd's redivivus.

This book examines the crisis at the famous insurance market, Lloyd's of London, during the late twentieth century, which nearly destroyed the 300-year-old institution. While rapid structural change resulting from system collapse is less common in insurance than in the history of other financial services, one exception was the Lloyd's crisis. Hitherto, explanations of the crisis have focused on the effects of catastrophic losses and poor governance. By drawing on contemporary accounts of the crisis, the author constructs the first comprehensive scholarly analysis of the public and political response. The book applies theoretical concepts from behavioural economics and economic psychology to argue that multiple delusions of competence were at work both within and outside the Lloyd's market. Arrogance, elitism and defence of vested interests comprised endogenous elements of the crisis. Entrenched ideas about the virtues of self-regulation and faith in insider experts also played a role. The result was a misdiagnosis by both insiders and politicians of what ailed Lloyd's and a series of reforms that failed to address the underlying causes of its disease. This book offers a salutary lesson from recent history about the importance of the transparency, accountability and effective monitoring of financial institutions. It is of interest to academics and students of economic and financial history, business, insurance, political economy and history. Robin Pearson is Professor of Economic History at the University of Hull, UK. He has published widely on British and international economic and business history, with a particular focus on insurance.

ISBN: 9783030940881$q(electronic bk.)

Standard No.: 10.1007/978-3-030-94088-1doiSubjects--Corporate Names:

335141
Lloyd's (Firm)
Subjects--Topical Terms:

924407
Insurance
--History--England--20th century.

LC Class. No.: HG8598.Z9 / P43 2022

Dewey Class. No.: 368.0120604212

Delusions of competencethe near-death of Lloyd's of London 1970-2002 /
LDR:03246nmm a2200337 a 4500 001 622556
003 DE-He213
005 20220209082154.0
006 m d
007 cr nn 008maaau
008 221209s2022 sz s 0 eng d
020 $a 9783030940881$q(electronic bk.)
020 $a 9783030940874$q(paper)
024 7 $a 10.1007/978-3-030-94088-1 $2 doi
035 $a 978-3-030-94088-1
040 $a GP $c GP
041 0 $a eng
050 4 $a HG8598.Z9 $b P43 2022
072 7 $a KCZ $2 bicssc
072 7 $a BUS023000 $2 bisacsh
072 7 $a KCZ $2 thema
082 0 4 $a 368.0120604212 $2 23
090 $a HG8598.Z9 $b P362 2022
100 1 $a Pearson, Robin. $3 924406
245 1 0 $a Delusions of competence $h [electronic resource] : $b the near-death of Lloyd's of London 1970-2002 / $c by Robin Pearson.
260 $a Cham : $b Springer International Publishing : $b Imprint: Palgrave Macmillan, $c 2022.
300 $a xi, 136 p. : $b ill., digital ; $c 24 cm.
490 1 $a Palgrave studies in economic history, $x 2662-6500
505 0 $a Chapter 1: Introduction -- Chapter 2: Lloyd's: its history and business practices -- Chapter 3: Lloyd's people: their social composition and political economy -- Chapter 4: Expansion, scandals and frauds - Lloyd's in the 1970s -- Chapter 5: The first reforms and public scrutiny -- Chapter 6: The school for scandals -- Chapter 7: Liability crisis, LMX spiral and collapse -- Chapter 8: Reform, survival and recovery -- Chapter 9: Conclusions - delusions of competence -- Chapter 10: Epilogue - Lloyd's redivivus.
520 $a This book examines the crisis at the famous insurance market, Lloyd's of London, during the late twentieth century, which nearly destroyed the 300-year-old institution. While rapid structural change resulting from system collapse is less common in insurance than in the history of other financial services, one exception was the Lloyd's crisis. Hitherto, explanations of the crisis have focused on the effects of catastrophic losses and poor governance. By drawing on contemporary accounts of the crisis, the author constructs the first comprehensive scholarly analysis of the public and political response. The book applies theoretical concepts from behavioural economics and economic psychology to argue that multiple delusions of competence were at work both within and outside the Lloyd's market. Arrogance, elitism and defence of vested interests comprised endogenous elements of the crisis. Entrenched ideas about the virtues of self-regulation and faith in insider experts also played a role. The result was a misdiagnosis by both insiders and politicians of what ailed Lloyd's and a series of reforms that failed to address the underlying causes of its disease. This book offers a salutary lesson from recent history about the importance of the transparency, accountability and effective monitoring of financial institutions. It is of interest to academics and students of economic and financial history, business, insurance, political economy and history. Robin Pearson is Professor of Economic History at the University of Hull, UK. He has published widely on British and international economic and business history, with a particular focus on insurance.
610 2 0 $a Lloyd's (Firm) $3 335141
650 0 $a Insurance $z England $z London $x History $y 20th century. $3 924407
650 1 4 $a Economic History. $3 739985
650 2 4 $a Financial History. $3 739649
650 2 4 $a Behavioral Economics. $3 719192
650 2 4 $a Economic Psychology. $3 794293
710 2 $a SpringerLink (Online service) $3 273601
773 0 $t Springer Nature eBook
830 0 $a Palgrave studies in economic history. $3 753309
856 4 0 $u https://doi.org/10.1007/978-3-030-94088-1
950 $a Economics and Finance (SpringerNature-41170)