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
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Link to Publisher's Edition
Guo, X., Zhu, X., Wong, W., & Zhu, L. (2013). A note on almost stochastic dominance. Economics Letters, 121 (2), 252-256. https://doi.org/10.1016/j.econlet.2013.08.020