Question: Why is Expected Shortfall ( ES ) considered more risk - averse than Value at Risk ( VaR ) ? a . ES accounts for

Why is Expected Shortfall (ES) considered more risk-averse than Value at Risk (VaR)?
a. ES accounts for the severity of losses beyond the VaR threshold.
b. ES focuses only on the highest potential losses.
c. ES is easier to calculate than VaR.
d. ES uses a more conservative confidence level.
Why is Expected Shortfall (ES) considered more risk-averse than Value at

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