Almost stochastic dominance for risk averters and risk seeker
Wing-Keung Wong () and
Finance Research Letters, 2016, vol. 19, issue C, 15-21
In this paper we first extend the theory of almost stochastic dominance (ASD) (for risk averters) to include the ASD for risk-seeking investors. We then study the relationship between ASD for risk seekers and ASD for risk averters. Recently, Tsetlin, et al.(2015) develop the theory of generalized ASD (GASD). We then briefly discuss the advantages and disadvantages of ASD and GASD.
Keywords: Almost stochastic dominance; Generalized almost stochastic dominance; Expected-utility maximization; Risk averters; Risk seekers; Moments (search for similar items in EconPapers)
JEL-codes: C00 D81 G11 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:19:y:2016:i:c:p:15-21
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