Department of Mathematics
A note on almost stochastic dominance
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.
Almost stochastic dominance, Expected-utility maximization, Hierarchy property, Risk averter
Source Publication Title
Link to Publisher's Edition
Guo, Xu, Xuehu Zhu, Wing-Keung Wong, and Lixing Zhu. "A note on almost stochastic dominance." Economics Letters 121.2 (2013): 252-256.