Lizyayev, Andrey M. - Tinbergen Instituut - 2009
This paper points out the importance of Stochastic Dominance (SD) efficient sets being convex. We reviewclassic … Dominance and further toDecreasing Absolute and Increasing Relative Risk Aversion Stochastic Dominance. The efficient sets … Post (2003) and expand the SSD efficiency criteriadeveloped by Dybvig and Ross (1982) onto the Third Order Stochastic …