منابع مشابه
Elitism and stochastic dominance
Élitisme et Dominance Stochastique Résumé La dominance stochastique est traditionnellement associée à la mesure du risque et de l'inégalité et repose sur la concavité de la fonction d'utilité. Nous prétendons que l'approche en terme de dominance stochastique a des implications qui vont au-delà de la mesure du risque et de l'inégalité pour peu que l'on procède à certains ajustements. Nous appliq...
متن کاملDocument de Travail n°2011-12 Elitism and Stochastic Dominance
Research whose financial support is gratefully acknowledged. We are in particular indebted to Eugenio Peluso and Nicolas Gravel for helpful conversations and suggestions. We also would like to thank two anonymous referees whose comments have helped us to make our ideas more precise and to improve the paper. Needless to say, the authors bear the entire responsibility for remaining errors and def...
متن کاملStochastic Dominance
The concept of Stochastic Dominance (SD) appeared in Economics in the context of the study of income distribution, where it provided various criteria for ranking income distributions according to classes of social welfare functions. Although stochastic dominance is still much in use for studies of income distribution and of poverty, more recently it has also found uses in financial economics, w...
متن کاملProbabilistic Choice and Stochastic Dominance
April 2008 Abstract This paper presents an axiomatic model of probabilistic choice under risk. In this model, when it comes to choosing one lottery over another, each alternative has a chance of being selected, unless one lottery stochastically dominates the other. An individual behaves as if he compares lotteries to a reference lottery—a least upper bound or a greatest lower bound in terms of ...
متن کاملProspect and Markowitz Stochastic Dominance
Levy and Levy (2002, 2004) develop the Prospect and Markowitz stochastic dominance theory with S-shaped and reverse S-shaped utility functions for investors. In this paper, we extend Levy and Levy’s Prospect Stochastic Dominance theory (PSD) and Markowitz Stochastic Dominance theory (MSD) to the first three orders and link the corresponding S-shaped and reverse S-shaped utility functions to the...
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ژورنال
عنوان ژورنال: Social Choice and Welfare
سال: 2011
ISSN: 0176-1714,1432-217X
DOI: 10.1007/s00355-011-0551-4