Chan, Raymond H.; Clark, Ephraim; Wong, Wing-Keung - Volkswirtschaftliche Fakultät, … - 2012
This paper studies some properties of stochastic dominance (SD) for risk-averse and risk-seeking investors, especially for the third order SD (TSD). We call the former ascending stochastic dominance (ASD) and the latter descending stochastic dominance(DSD). We first discuss the basic property of...