This is an expository paper on tensor products where the standard approaches for constructing concrete instances of algebraic linear spaces, via quotient spaces or maps bilinear maps, are reviewed by reducing them to different but isomorphic interpretations abstract notion, viz. universal property, which based a pair axioms.

Abstract Risk measures such as expected shortfall (ES) and value-at-risk (VaR) have been prominent in banking regulation financial risk management. Motivated by practical considerations the assessment management of risks, including tractability, scenario relevance robustness, we consider theoretical properties scenario-based evaluation. We establish axiomatic characterisations that are comonoto...

Axiomatic Foundations for Nonadditive Multiattribute Portfolio Utility Functions