Shalit, Haim; Yitzhaki, Shlomo - Economics Department, Ben Gurion University of the Negev - 2008
Stochastic dominance rules provide necessary and sufficient conditions for characterizing efficient portfolios that …, as they are based on parameters of risk and return. We present stochastic dominance rules for portfolio choices that can … be interpreted in terms of simple financial concepts of systematic risk and mean return. Stochastic dominance is …