Preference relations in ranking multivalued alternatives using stochastic dominance: case of the Warsaw Stock Exchange
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چکیده
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 issues. The first part of paper reviews the Stochastic Dominance properties. While the second part of the paper deals with the effectiveness of the various Stochastic Dominance rules in financial application.
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