Stochastic Dominance of Any Type and Any Degree, and Expected Utility: A Unifying Approach

This paper provides a general framework for a unifying treatment of stochastic dominance of any degree and of any type (direct or inverse for each final or intermediary level). It gives the conditions for the congruence between stochastic dominance and classes of utility functions in this general case, and expresses the conditions on bounds in terms of differences between statistical moments around zero. It shows, as particular cases within this general framework, the properties of some varieties of stochastic dominance usually neglected in standard literature.