Before revision:  Our construction), where p is the observed initial value of X or is assigned by \pi _{P}(X) under the probability P. }\newline  is inspired by a new interpretation of the quasiconvex duality and naturally leads to the introduction of the general class of Value\&Risk measures .
After revision:  Our construction), where p is the observed initial value of X or is assigned by \pi _{P}(X) under the probability P. }\newline is inspired by a new interpretation of the quasiconvex duality in a Knightian setting, where a family of probability measures replaces the single reference probability and is then applied to value financial positions. Diametrically, our construction of V\&R measures is based on the selection of a basket of claims to test the reliability of models .