"Quantitative risk assessments cannot eliminate risk, nor can they resolve trade-offs. They can, however, guide … principled risk management and reduction - if the quality of assessment is high and decision makers understand how to use it …. This book builds a unifying scientific framework for discussing and evaluating the quality of risk assessments and whether …

risk measures for portfolios with infrequently traded securities have not been explored in the literature. We propose a … methodology to calculate market risk measures based on the Kalman filter which can be used on incomplete datasets. We implement … applied to other markets with thinly traded securities. Our methodology provides reliable market risk measures in portfolios …