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Risk aggregation pursues the goal of determining an overall risk position for the company or for a project on the basis of the identified, analysed and evaluated individual risks. [1] The risk classification that has to be carried out within risk aggregation represents the interface between risk evaluation and risk response. [2]
Under some conditions, aggregate risk can arise from the aggregation of micro shocks to individual agents. This can be the case in models with many agents and strategic complementarities ; [ 5 ] situations with such characteristics include: innovation, search and trading, production in the presence of input complementarities, and information ...
Aggregation problem (economics) Purchasing aggregation, the joining of multiple purchasers in a group purchasing organization to increase their buying power; Community Choice Aggregation, the joining of geographically contiguous communities to bypass a conventional energy utility monopoly and seek a greener energy service
The subject title of the standard is: "Principles for effective risk data aggregation and risk reporting". The overall objective of the standard is to strengthen banks’ risk data aggregation capabilities and internal risk reporting practices, in turn, enhancing the risk management and decision making processes at banks. [1]
Firefighters are exposed to risks of fire and building collapse during their work.. In simple terms, risk is the possibility of something bad happening. [1] Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. [2]
The aggregation problem is the difficult problem of finding a valid way to treat an empirical or theoretical aggregate as if it reacted like a less-aggregated measure, say, about behavior of an individual agent as described in general microeconomic theory [1] (see representative agent and heterogeneity in economics).
Risk pooling is an important concept in supply chain management. [2] Risk pooling suggests that demand variability is reduced if one aggregates demand across locations because as demand is aggregated across different locations, it becomes more likely that high demand from one customer will be offset by low demand from another.
A coherent risk measure is a function that satisfies properties of monotonicity, sub-additivity, homogeneity, and translational invariance. Properties.