Abstract Among the many peculiarities that were dubbed “paradoxes” by well meaning statisticians, the one reported by Frederic M. Lord in 1967 has earned a special status. Although it can be viewed, formally, as a version of Simpson’s paradox, its reputation has gone much worse. Unlike...

In this paper, the assumption of monotonicity of Anscombe and Aumann (1963) is replaced by a weaker assumption of monotonicity with respect to first order stochastic dominance. I derive a representation result where ambiguous distributions of objective beliefs are first aggregated into...