A method of stochastic dominance analysis with respect to a function (SDRF) is described and illustrated. The method, called stochastic efficiency with respect to a function (SERF), orders a set of risky alternatives in terms of certainty equivalents for a specified range of attitudes to risk....

Poverty reduction has been an underlying goal of governments and the development community since the Second World War, but it was the 1973 Nairobi address of Robert S. McNamara, then President of the World Bank, that created a new commitment to directly address poverty reduction in the quest for...

New development paradigms come and go, seemingly with increasing rapidity, yet poverty remains the scourge of the developing nations. As we enter the new millennium, we fear that still more development fads and fancies will emerge, to be taken up and then dropped by the development community....