Before revision: We describe a general approach to obtain dual representations for systemic risk measures of the "allocate first, then aggregate"-type, which have recently received significant attention in the literature. Our method is based on the possibility to express this type of multivariate risk measures as special cases of risk measures with multiple eligible assets. This allows us to apply standard Fenchel-Moreau techniques to tackle duality also for systemic risk measures .
After revision: We describe a general approach to obtain dual representations for systemic risk measures based on acceptance sets in a general setting. We deal with systemic risk measures .