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Stochastic Dominance in Human Capital
Journal of Political Economy, 1980The paper considers the choice between two finite income paths that are subject to random variations. It is shown that if one income path, X, has more cumulative variation at the outset and less variation toward the end than another income path, Y, then X dominates Y in the sense that (almost) every decision maker prefers X to Y.
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, 1990 We develop in this paper a systematic study of the stochastic dominance ordering in spaces of measures. We collect and present in an orderly fashion, results that are spread out in the Applied Probability and Mathematical Economics literature, and extend most of them to a somewhat broader framework.
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Stochastic Dominance in Regret Theory
The Review of Economic Studies, 1990The regret theory of choice under uncertainty is known to admit intransitivities in preference relations. In this paper, the stochastic dominance properties of the theory are examined. It is shown that the usual definition of first stochastic dominance is not satisfied by regret-theoretic preferences and that, in general, violations of first stochastic
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The Geometric Mean and Stochastic Dominance
The Journal of Finance, 1980TWO APPROACHES TO THE choice among risky alternatives that have been developed independently over the past twenty years are the geometric mean criterion and the stochastic dominance decision models. Both can be justified by the expected utility hypothesis, with the geometric mean criterion following as a result of the assumption that the decision-maker
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A Note on Almost Stochastic Dominance and Generalized Almost Stochastic Dominance
SSRN Electronic Journal, 2014Xu Guo, Wing-Keung Wong, Lixing Zhu
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Stochastic Dominance and Expected Utility: Survey and Analysis
Management Science, 1992Haim Levy
exaly