Before revision: In this paper , we investigate two different frameworks for assessing the risk in a multi-period decision process: a dynamically inconsistent formulation (whereby a single , static risk measure is applied to the entire sequence of future costs), and a dynamically consistent one, obtained by suitably composing one-step  risk mappings.
After revision: In this paper , we investigate two different frameworks for assessing the risk in a multi-period decision process: a dynamically inconsistent formulation (whereby a single , static risk measure is applied to the entire sequence of future costs), and a dynamically consistent one, obtained by suitably composing one-step coherent risk mappings.