Fraction-Degree Reference Dependent Stochastic Dominance
نویسندگان
چکیده
For addressing the Allis-type anomalies, a fractional degree reference dependent stochastic dominance rule is developed which generalization of integer rules. This new can effectively explain why risk comparison does not satisfy translational invariance and scaling in some cases. The also has good property that it compatible with endowment effect risk. help risk-averse but absolute decision makers to compare risks relative points. We present tractable equivalent integral conditions for rule, as well practical applications economics finance.
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ژورنال
عنوان ژورنال: Methodology and Computing in Applied Probability
سال: 2022
ISSN: ['1387-5841', '1573-7713']
DOI: https://doi.org/10.1007/s11009-022-09939-0