Dynamic Risk Measures for Discrete-time Process

In this paper, we establish a class of dynamic risk measures for evaluating discrete-time process. Our research is mostly concentrated on the properties of dynamic risk measures. The properties of risk measures in the static framework, are introduced into the dynamic risk measures framework. We present the conception of capital requirement for discrete-time process to measure the risk in the dynamic framework. In particular, four of axioms about dynamic risk measures have been proposed in the third section. We establish strong, middle and poor consistency properties to show our efforts in the mathematics description of the dynamic risk measure of discrete-time process