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Document Type

Journal Article

Department/Unit

Department of Mathematics

Title

A note on almost stochastic dominance

Language

English

Abstract

Both the expected-utility maximization and the hierarchy property are very important properties in stochastic dominance. For almost stochastic dominance, Leshno and Levy (2002) propose a definition and Tzeng etal. (2013) modified it to give another definition. This note provides more information on the two definitions. The former has the hierarchy property but not the expected-utility maximization, whereas the latter has the expected-utility maximization but not the hierarchy property. © 2013 Elsevier B.V.

Keywords

Almost stochastic dominance, Expected-utility maximization, Hierarchy property, Risk averter

Publication Date

2013

Source Publication Title

Economics Letters

Volume

121

Issue

2

Start Page

252

End Page

256

Publisher

Elsevier

ISSN (print)

01651765

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