The practice of risk analysis and management involves uncertainty. When negative risk events occur, as they often do …, it’s not apparent whether the event resulted from properly conducted risk analysis and management, or from improper work …, intent to mislead, or other types of misinformation. Additionally, risk management involves decision-making, such that …

evaluation of the methodological and empirical advances in the measurement of the extreme market risk. This paper argues that a … sustain the rise of financial markets. Thereafter, this review identified the value at risk (VaR) and VaR-based alternative … expected shortfall (ES) as the principal measures of extreme market risk. The deficiencies in the standard modelling approaches …