This paper applies the mean-variance portfolio optimization (PO) approach and the stochastic dominance (SD) test to examine preferences for international diversification versus domestic diversification from American investors’ viewpoints. Our PO results imply that the domestic diversification...

Studying the characteristics of different income distributions, and compare the differences among different income distributions with respect to geographic regions, and changes over time periods is a very important area in economics. In order to compare the differences among different income...