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Risk Quantification, Risk Modelling, Risk Aggregation, and Model Risks

In: Enterprise Risk Management

Author

Listed:
  • Robert Rieg

    (Aalen University)

  • Ute Vanini

    (Kiel University of Applied Science)

  • Werner Gleißner

    (Future Value Group AG
    TUD Dresden University of Technology)

Abstract

This chapter introduces the principles and methods of appropriate risk quantification and risk aggregation. In addition to explaining the most important probability distributions for quantification, this chapter discusses typical problems with this task. Within the guidelines of risk quantification, a method is provided that enables the appropriate quantification of different risks. The chapter additionally shows how the overall scope of risk of a company is determined based on corporate planning by means of risk aggregation, especially Monte Carlo simulation.

Suggested Citation

  • Robert Rieg & Ute Vanini & Werner Gleißner, 2025. "Risk Quantification, Risk Modelling, Risk Aggregation, and Model Risks," Springer Texts in Business and Economics, in: Enterprise Risk Management, chapter 0, pages 83-108, Springer.
    • Handle: RePEc:spr:sptchp:978-3-031-86425-4_5
    DOI: 10.1007/978-3-031-86425-4_5
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