Necessary and sufficient conditions are given for stochastic dominance over the class of decreasing absolute risk-averse utility functions. The random variables being compared may be continuous as well as discrete but are assumed to be bounded from below, to have finite means, to have only...

Stochastic dominance (SD) theory is concerned with orderings of random variables by classes of utility functions characterized solely in terms of general properties. This paper discusses a type of stochastic dominance, called DSD, which is denned by the utility functions having decreasing...

This paper treats a problem of stochastic cash management under an average compensating-balance requirement. It develops a dynamic programming formulation of the problem in which the relevant state is a unidimensional quantity equivalent to the forecasted average balance at the end of the...

This paper treats a continuous review, single product stochastic cycling problem with demand modelled as a Brownian motion process. A broad class of production policies is admitted: they may be nonstationary, non-Markovian, or, in fact, almost arbitrary. Control theory is used to show that,...