Stochastic dominance representation of optimistic belief: Theory and applications
Yusuke Osaki and
John Quiggin
Economics Letters, 2008, vol. 101, issue 3, 275-278
Abstract:
This note gives a stochastic dominance representation of more optimistic belief in rank dependent expected utility. Applying this observation, we can demonstrate the effect of more optimistic belief on economic decisions and equilibria under risk making comparative static analysis.
Keywords: Comparative; statics; Optimistic; belief; Rank; dependent; expected; utility; Stochastic; dominance (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:101:y:2008:i:3:p:275-278
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