search query: @indexterm Stochastic dominance / total: 10
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| Author: | Leshno, M. Levy, H. |
| Title: | Preferred by "all" and preferred by "most" decision makers: almost stochastic dominance |
| Journal: | Management Science
2002 : AUG, VOL. 48:8, p. 1074-1085 |
| Index terms: | Decision making Risk aversion Stochastic dominance |
| Language: | eng |
| Abstract: | Stochastic dominance rules as well as other investment criteria will not reveal a preference for one uncertain prospect over another due to some extreme utility functions in the case of even small violation of these rules. Such stirct rules relate to "all" utility functions in a given class including extreme ones which presumably rarely represents investors' preference. Almost stochastic dominance (ASD) rules which formally reveal a preference for "most" decision makers, but not for "all" of them are established in this paper. |
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