Comparison of random cash flows

Marco Scarsini

Post-Print from HAL

Abstract: In this paper we provide stochastic-dominance conditions for random cumulated cash flows, when various criteria of choice are assumed. Three (progressively finer) criteria are considered. The first one assumes only the expected utility principle. The second one involves discounting and preference scaling. The third one involves discounting and preference scaling, too, but in reverse order. Our results are finally compared with other known results for the case of nonrandom cash flows.

Keywords: Comparison; random cash flows (search for similar items in EconPapers)
Date: 1986
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Published in IMA Journal of Management Mathematics, 1986, Vol. 1, N°1, pp. 25-32. ⟨10.1093/imaman/1.1.25⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:hal:journl:hal-00542252

DOI: 10.1093/imaman/1.1.25

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD (hal@ccsd.cnrs.fr).