search query: @indexterm Stochastic dominance / total: 10
reference: 8 / 10
| Author: | Paulsson, T. Sproule, R. |
| Title: | Stochastically dominating shifts and the competitive firm |
| Journal: | European Journal of Operational Research
2002 : AUG, VOL. 141:1, p. 107-112 |
| Index terms: | DECISION THEORY ECONOMICS PRODUCTION STOCHASTIC DOMINANCE |
| Language: | eng |
| Abstract: | The production responses of the competitive firm to stochastically dominating shifts in the distribution of output-price have been the object of much research. In a recent paper, Simpson and Sproule present five sets of sufficient conditions, any one of which may be used to jointly sign the production responses of the competitive firm to first-, second-, and third-order stochastically dominating shifts. This paper demonstrates that one of the conditions outlined in the above mentioned reference is unnecessarily restrictive in the case of the logarithmic and the positive-power utility functions. The paper provides a substantial list of references on this subject. |
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