A note on almost stochastic dominance

Xu Guo, Xuehu Zhu, Wing-Keung Wong and Lixing Zhu

Economics Letters, 2013, vol. 121, issue 2, 252-256

Abstract: 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 et al. (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.

Keywords: Almost stochastic dominance; Expected-utility maximization; Hierarchy property; Risk averter (search for similar items in EconPapers)
JEL-codes: C0 D81 G11 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:121:y:2013:i:2:p:252-256

DOI: 10.1016/j.econlet.2013.08.020

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