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2024 | OriginalPaper | Chapter

4. Quantifying, Aggregating, and Modelling Risks

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Key Topics in This Chapter: Mainly Quantitative

In this chapter we start dealing with some selected aspects of the quantitative side of risk management, mainly including the following:
  • Balancing efforts and benefits of risk management.
  • The concept of risk aggregation.
  • Sketch of the top five entry-level probability distribution functions.
  • Principles of risk aggregation, modelling, and simulation.
  • Making risks measurable and comparable: Risk measures and their classification.
  • The value-at-risk and related measures.
  • Standard risk models: The individual and the collective risk model.
  • Risk portfolios.
  • The Monte Carlo simulation method.
  • Decisions under risk and uncertainty.

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Metadata
Title
Quantifying, Aggregating, and Modelling Risks
Author
Herfried Kohl
Copyright Year
2024
DOI
https://doi.org/10.1007/978-3-031-71272-2_4

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