This study establishes necessary conditions for Almost Stochastic Dominance criteria of various orders. These conditions take the form of restrictions on algebraic combinations of moments of the probability distributions in question. The relevant set of conditions depends on the relevant order...

Measuring the psychic return of art investments is a debated issue in cultural economics. Several works suggest Jensen’s alpha as a measure of the psychic return. Since Jensen’s alpha is defined in the CAPM framework, its uncritical application as a measure of the psychic return may be...

Both the expected-utility maximization and the hierarchy property are very important properties in stochastic dominance. For almost stochastic dominance, Leshno and Levy (2002) propose a definition and Tzeng et al. (2013) modified it to give another definition. This note provides more...