We study the existence and uniqueness of minimal supersolutions of backward stochastic differential equations with generators that are jointly lower semicontinuous, bounded below by an affine function of the control variable and satisfy a specific normalization property.

We study dynamic monetary risk measures thatdepend on bounded discrete-time processesdescribing the evolution of financial values. The time horizoncan be finite or infinite. We call a dynamic risk measuretime-consistent if it assigns to a process of financialvalues the same risk irrespective of...