https://scholars.lib.ntu.edu.tw/handle/123456789/414430
標題: | Revisiting almost second-degree stochastic dominance | 作者: | Tzeng L.Y. Huang R.J. Shih P.-T. |
關鍵字: | Almost stochastic dominance;Risk aversion;Stochastic dominance | 公開日期: | 2013 | 卷: | 59 | 期: | 5 | 起(迄)頁: | 1250-1254 | 來源出版物: | Management Science | 摘要: | Leshno and Levy [Leshno M, Levy H (2002) Preferred by "all" and preferred by "most" decision makers: Almost stochastic dominance. Management Sci. 48(8):1074-1085] established almost stochastic dominance to reveal preferences for most rather than all decision makers with an increasing and concave utility function. In this paper, we first provide a counterexample to the main theorem of Leshno and Levy related to almost seconddegree stochastic dominance. We then redefine this dominance condition and show that the newly defined almost second-degree stochastic dominance is the necessary and sufficient condition to rank distributions for all decision makers excluding the pathological concave preferences. We further extend our results to almost higher-degree stochastic dominance. ? 2013 INFORMS. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/414430 | ISSN: | 00251909 | DOI: | 10.1287/mnsc.1120.1616 |
顯示於: | 財務金融學系 |
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