%0 Journal Article %T Tail Asymptotics of Deflated Risks %A E. Hashorva %A C. Ling %A Z. Peng %J Mathematics %D 2013 %I arXiv %X Random deflated risk models have been considered in recent literatures. In this paper, we investigate second-order tail behavior of the deflated risk X=RS under the assumptions of second-order regular variation on the survival functions of the risk R and the deflator S. Our findings are applied to approximation of Value at Risk, estimation of small tail probability under random deflation and tail asymptotics of aggregated deflated risk %U http://arxiv.org/abs/1305.2586v1