Due to the plurality in interpretations of the subjective notion of risk, we describe it by means of a preference order and concentrate on context invariant features usually related to this notion:â€¦ (More)

In the paradigm of von Neumann and Morgenstern, a representation of a ne preferences in terms of an expected utility can be obtained under the assumption of weak continuity. Since the weak topologyâ€¦ (More)

*Correspondence: kupper@uni-konstanz.de 2UniversitÃ¤t Konstanz, UniversitÃ¤tsstraÃŸe 10, Konstanz, 78464, Germany Full list of author information is available at the end of the article Abstract Theâ€¦ (More)

We consider a risk preference given by a total preorder < on the setM1,c of probability distributions on R with compact support, that is, a transitive binary relation such that for all Î¼, Î½ âˆˆ M1,câ€¦ (More)

The ongoing concern about systemic risk since the outburst of the global financial crisis has highlighted the need for risk measures at the level of sets of interconnected financial components, suchâ€¦ (More)