Pflug, Georg Ch.; Römisch, Werner Modeling, measuring and managing risk. (English) Zbl 1153.91023 Hackensack, NJ: World Scientific (ISBN 978-981-270-740-6/hbk). xv, 286 p. (2007). The book is an introduction into the quantification and the optimal management of risks. The authors present all the risk analysis chain: modeling, measuring and managing risk. The structure of the book reflects this three step analysis.Chapter 1, Modeling uncertain outcomes, deals with modeling.Chapter 2, Measuring single-period risk, and Chapter 3, Measuring multi-period risk, present measuring of risks.Chapter 4, Single-stage decision models, Chapter 5, Multi-stage decision models for financial management, andChapter 6, Multi-stage decision models for electricity management, introduce into risk management. A particular emphasis is put on multi-period risk measuring and managing. In the multi-period setting, the line between measuring and managing is very close. This line is given by multi-period stochastic optimization. The book is very useful for researchers, professionals and students in the risk area. Reviewer: Pavel Stoynov (Sofia) Cited in 1 ReviewCited in 145 Documents MSC: 91B30 Risk theory, insurance (MSC2010) 91-02 Research exposition (monographs, survey articles) pertaining to game theory, economics, and finance 60-02 Research exposition (monographs, survey articles) pertaining to probability theory Keywords:risk; risk models; decision models PDFBibTeX XMLCite \textit{G. Ch. Pflug} and \textit{W. Römisch}, Modeling, measuring and managing risk. Hackensack, NJ: World Scientific (2007; Zbl 1153.91023)