Non-Emptyness of Stochastic Dominance Effiicient Sets via Stochastic Spanning

Stelios Arvanitis
Additional contact information
Stelios Arvanitis: Athens University of Economics and Business

No 201710, Working Papers from Athens University Of Economics and Business, Department of Economics

Abstract: We derive sufficient conditions for the non-emptyness of the efficient set for a class of Stochastic Dominance Relations, commonly applied in Economics and Finance, over sets of distributions of the real line. We do so via the use of the concept of sto- chastic spanning and its characterization via a saddle type property. Under the appro- priate framework sufficiency takes theform of semi-connuity of some related functional. In some cases this boils down to mild uniform moment existence conditions.

Keywords: Stochastic Dominance Relation; Financial Portfolio; Income Distribution; Functional Inequalities; Efficient set; Stochastic Spanning; Saddle-type Property; Zorn’s Lemma; Finite Intersection Property; Semi-Connuity. (search for similar items in EconPapers)
JEL-codes: C02 D31 D81 G11 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2017-10
References: View references in EconPapers View complete reference list from CitEc
Citations:

Forthcoming

Downloads: (external link)
http://www2.econ.aueb.gr/uploadfiles/AllDP052017 Released version, 2017 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aeb:wpaper:201710:y:2017

Access Statistics for this paper

More papers in Working Papers from Athens University Of Economics and Business, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Katerina Michailidou ().