their work by first recommending an existing stochastic dominance test to handle the issue and thereafter developing a new … test for the ASD which could detect dominance for any pre-determined small value. We also provide two approaches to obtain … the critical values for our proposed test. …

-variance framework. We find that an increase in expected output price will surely cause the risk averse firm to increase the inputs …’ demand, while an increase in expected energy price will surely cause the risk averse firm to decrease the demand for energy … risk averse firm to decrease the demands for the non-risky inputs. Furthermore, we investigate the two cases with only …

In this paper we first develop a theory of almost stochastic dominance for risk-seeking investors to the first three … orders. Thereafter, we study the relationship between the preferences of almost stochastic dominance for risk-seekers with … that for risk averters. …

This paper investigates the impact of multiplicative background risk on an investor's portfolio choice in a mean …-variance framework. We also study the efficient boundary frontiers with and without risk-free security. …

indifference curves for the investment with background risk for risk averters, risk seekers, and risk-neutral investors. Thereafter …This paper studies the impact of background risk on the indifference curve. We first study the shape of the … deviations of the returns of the financial asset and/or the background asset change. In addition, we draw inference on risk …

four orders of ASD are used in the prospects comparison, risk-averse investors prefer the one with positive gain, smaller …