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A characterization of stochastic dominance efficiency

Haris Aziz ()
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Haris Aziz: NICTA and UNSW

Economic Theory Bulletin, 2014, vol. 2, issue 2, No 7, 205-212

Abstract: Abstract Pareto optimality is one of the most central concepts in economics. $$\mathrm {SD}$$ SD -efficiency (efficiency with respect to stochastic dominance) is the most established generalization of Pareto optimality for randomized settings. In the last decade, a number of characterizations of $$\mathrm {SD}$$ SD -efficiency have been presented especially in the domain of assignments. We present a new characterization of $$\mathrm {SD}$$ SD -efficiency in the more general domain of randomized social choice.

Keywords: Efficiency; Stochastic dominance; Social choice theory; Assignment problem (search for similar items in EconPapers)
JEL-codes: C70 D61 D71 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s40505-014-0047-3

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