In this paper we first extend the theory of almost stochastic dominance (ASD) (for risk averters) to include the ASD … for risk-seeking investors. We then study the relationship between ASD for risk seekers and ASD for risk averters …

This paper extends Jiang, et al. (2010), Guo, et al. (2017), and others by investigating the impact of background risk … characterizations of the mean-variance boundary and mean-VaR efficient frontier in the presence of background risk. We also consider the … case with a risk-free security. Finally, we extend our work to the non-normality situation and examine the economic …

studies. To fill in the gap in the literature, this study uses both economic and financial risk indices to determine how risks … short-term positive connection between economic and financial risk and find that economic risk has a one-way causal … relationship with financial risk, demonstrating that economic risk has strong predictive power for financial risk. Moreover, the …

and stochastic dominance that leads to the preferences of risk averters/seekers. We find that it is possible to establish … the necessary conditions between and Omega ratio and the preferences of risk averters/seekers under the condition that the …

risk averters and risk seekers, respectively, when the attributes are assumed to be independent and the utility is assumed … risk averters and risk seekers, respectively. For example, we prove that multivariate stochastic dominances are equivalent … to the expected-utility maximization for risk averters and risk seekers, respectively. We show that the hierarchical …

markets in Hong Kong. We also analyze the preferences for the risk averters, risk seekers, prospect investors, and Markowitz … investors with further in dept of their positive and negative domains in these markets. We find that for the risk averters, spot … dominates futures while for the risk seekers, futures dominate spot. This implies that the risk averters prefer to buy indexed …