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Engineering financial safety : a system-theoretic case study from the financial crisis

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dc.contributor.advisor Nancy G Leveson. en_US
dc.contributor.author Spencer, Melissa B. (Melissa Beth) en_US
dc.contributor.other Massachusetts Institute of Technology. Technology and Policy Program. en_US
dc.date.accessioned 2012-09-13T19:00:52Z
dc.date.available 2012-09-13T19:00:52Z
dc.date.copyright 2012 en_US
dc.date.issued 2012 en_US
dc.identifier.uri http://hdl.handle.net/1721.1/72903
dc.description Thesis (S.M. in Technology and Policy)-- Massachusetts Institute of Technology, Engineering Systems Division, Technology and Policy Program, 2012. en_US
dc.description Cataloged from PDF version of thesis. en_US
dc.description Includes bibliographical references (p. 103-105). en_US
dc.description.abstract There is currently much systems-based thinking going into understanding safety in complex socio-technical systems and in developing useful accident analysis methods. However, when it comes to complex systems without clear physical components, the techniques for understanding accidents are antiquated and ineffective. This thesis uses a promising new engineering-based accident analysis methodology, CAST (Casual Analysis using STAMP, or Systems Theoretic Accident Models and Processes) to understand an aspect of the financial crisis of 2007-2008. This thesis demonstrates how CAST can be used to understand the context and control problems that led to the collapse and rapid acquisition of the investment bank Bear Stearns in March 2008. It seeks to illustrate the technological and regulatory change that provided the context for the Bear Stearns accidents and then demonstrates how a top-down systematic method of analysis can produce more insight into the accident than traditional financial accident investigations such as congressionally-mandated inquiries. en_US
dc.description.statementofresponsibility by Melissa B. Spencer. en_US
dc.format.extent 105 p. en_US
dc.language.iso eng en_US
dc.publisher Massachusetts Institute of Technology en_US
dc.rights M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. en_US
dc.rights.uri http://dspace.mit.edu/handle/1721.1/7582 en_US
dc.subject Engineering Systems Division. en_US
dc.subject Technology and Policy Program. en_US
dc.title Engineering financial safety : a system-theoretic case study from the financial crisis en_US
dc.title.alternative System-theoretic case study from the financial crisis en_US
dc.type Thesis en_US
dc.description.degree S.M.in Technology and Policy en_US
dc.contributor.department Massachusetts Institute of Technology. Engineering Systems Division. en_US
dc.contributor.department Massachusetts Institute of Technology. Technology and Policy Program. en_US
dc.identifier.oclc 808492853 en_US


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