Exposure to market risk is a core objective of the Capital Asset Pricing Model (CAPM) with a focus on systematic risk …

under ambiguity, called Shadow probability theory, a generalization of the Choquet expected utility. In this model … space. Risk and risk attitude, on the other hand, apply to the subordinated space, as in classical expected utility theory … the classical asset pricing theory by incorporating ambiguous probabilities. It proposes a well defined ambiguity premium …

supplementing them with the voting theory elements. The developed stochastic dominance algorithm is based on an investment approach …