The Monotonicity of Asset Prices with Changes in Risk

Masamitsu Ohnishi () and Yusuke Osaki ()
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Masamitsu Ohnishi: Graduate School of Economics, Osaka University
Yusuke Osaki: Graduate School of Economics, Osaka University

No 05-14, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: The goal of this paper is the examination of the conditions on preferences to guarantee the monotonicity of asset prices, when their returns change in the sense of first- and second-order stochastic dominances.

Keywords: Asset Price; Comparative Statics; First-order Stochastic Dominance; Second-order Stochastic Dominance. (search for similar items in EconPapers)
JEL-codes: D81 G12 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2005-05
New Economics Papers: this item is included in nep-cfn and nep-fin
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Persistent link: https://EconPapers.repec.org/RePEc:osk:wpaper:0514

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