Metrization of stochastic dominance rules

Decision criteria in risk analysis : an application of stochastic dominance with respect to a function

Preference relations in ranking multivalued alternatives using stochastic dominance: case of the Warsaw Stock Exchange

While Stochastic Dominance has been employed in various forms as early as 1932, it has been since 1969-1970 developed and extensively employed in the area of economics, finance and operation research. In this study the first, second and third order stochastic dominance rules are discussed for ranking alternatives under ambiguity with an emphasis on the development in the area of financial issue...

Electricity Procurement for Large Consumers with Second Order Stochastic Dominance Constraints

This paper presents a decision making approach for mid-term scheduling of large industrial consumers based on the recently introduced class of Stochastic Dominance (SD)- constrained stochastic programming. In this study, the electricity price in the pool as well as the rate of availability (unavailability) of the generating unit (forced outage rate) is considered as uncertain parameters. Th...

Generalized Almost Stochastic Dominance

Almost stochastic dominance allows small violations of stochastic dominance rules to avoid situations where most decision makers prefer one alternative to another but stochastic dominance cannot rank them. However, the commonly used integral condition for almost seconddegree stochastic dominance does not map into the corresponding classes of increasing concave utility functions with bounded der...

Money Growth Rules in an Emerging Small Open Economy with an informal sector

This paper is concerned with the saddle-path stability of monetary growth rules in a two-country two-sector dynamic stochastic general equilibrium model. Alongside standard features of emerging economies, such as a combination of producer and local currency pricing for exports, fiscal dominance and oil exports, this model also incorporates informal labour and production sectors and examines how...