probabilities. Furthermore, we study the difference between ambiguity and uncertainty by considering investors' behavior …

changes in the diversification nature of banks activities. We analyzed the financial statements of (13) Jordanian banks on …) to measure the diversification degree of revenue, credit, and deposits activities.The study concluded that (a) stock … market has evaluated the changes in revenue diversification more efficiently than changes in the structure of credit or …

this paper bring together extreme value theory and dependence uncertainty, two popular topics in the recent study of risk …In this paper, we investigate the asymptotic behavior of the portfolio diversification ratio based on Value-at-Risk … (quantile) under dependence uncertainty, which we refer to as "worst-case diversification limit." We show that the worst …

called second-order uncertainty. I propose a quantification of uncertainty without ranking or evaluation of possible outcomes … diversification under uncertainty … allocation under second-order uncertainty is the equal weighted allocation. The model thus offers a rationale for naive …