In this paper, we first modify the stochastic dominance (SD) test for risk averters proposed by Davidson and Duclos (2000) to be the SD test for risk seekers. We then adopt both tests to examine the SD relationships between stock indices and their corresponding index futures for 10 countries....

This study provides the first attempt to examine the ability of the price of fine wine to forecast the Gross Domestic Product (GDP) for the major developed countries. Considering the limitation of a linear Granger causality test in detecting nonlinear causal relationships, a nonlinear Granger...