We explain why and how to deal with the definition, acceptability, computation and management of risk in a genuinely multitemporal way. Coherence axioms provide a representation of a risk-adjusted valuation. Some special cases of practical interest allowing for easy recursive computations are presented. The multiperiod extension of Tail VaR is discussed. 1. NEW QUESTIONS WITH MULTIPERIOD RISK R...

In this paper, we give the axiomatic characterization of risk measures and discuss the treads of developments in this area. The main recently proposed risk measures are presented, and their properties and relations are discussed. The corresponding versions of dynamic risk measure are also briefly introduced.

since the report from the national high blood pressure (bp) education program working group on bp in children and adolescents and the introduction of a new description called prehypertension many data have been provided on its rate of progression to hypertension, its prevalence and association with other cardiovascular (cv) risk factors and its therapy. making a diagnosis of prehypertension in ...

Financial risk measurement relies on models of prices and other market variables, but models inevitably rely on imperfect assumptions and estimates, creating model risk. Moreover, optimization decisions, such as portfolio selection, amplify the effect of model error. In this work, we develop a framework for quantifying the impact of model error and for measuring and minimizing risk in a way tha...