Revisiting Almost Second-Degree Stochastic Dominance
- Autores: Larry Y. Tzeng, Rachel J. Huang, Pai-Ta Shih
- Localización: Management science: journal of the Institute for operations research and the management sciences, ISSN 0025-1909, Vol. 59, Nº. 5, 2013, págs. 1250-1254
- Idioma: inglés
- Texto completo no disponible (Saber más ...)
- Dialnet Métricas: 3 Citas
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Resumen
Leshno and Levy [Leshno M, Levy H (2002) Preferred by �all� and preferred by �most� decision makers: Almost stochastic dominance. Management Sci. 48(8):1074�1085] established almost stochastic dominance to reveal preferences for most rather than all decision makers with an increasing and concave utility function. In this paper, we first provide a counterexample to the main theorem of Leshno and Levy related to almost second-degree stochastic dominance. We then redefine this dominance condition and show that the newly defined almost second-degree stochastic dominance is the necessary and sufficient condition to rank distributions for all decision makers excluding the pathological concave preferences. We further extend our results to almost higher-degree stochastic dominance.
