Hadar, Josef; Seo, Tae Kun - In: Journal of Risk and Uncertainty 3 (1990) 1, pp. 93-99
This article shows that if Ross's definition of riskier is replaced by a more traditional definition, such as a mean-preserving spread or second-degree stochastic dominance, then the application of Ross's stronger measure of risk aversion to the portfolio problem may no longer produce the...