  The paper analyzes risk assessment for cash flows in continuous time using
the notion of convex risk measures for processes. By combining a decomposition
result for optional measures, and a dual representation of a convex risk
measure for bounded \cd processes, we show that this framework provides a
systematic approach to the both issues of model ambiguity, and uncertainty
about the time value of money. We also establish a link between risk measures
for processes and BSDEs.
