A note on first degree stochastic dominance |
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| Authors: | L. P. Hansen |
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| Affiliation: | Carnegie-Mellon University, Pittsburgh, PA 15213, USA;University of Minnesota, Minneapolis, MN 55455, USA |
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| Abstract: | A link is established between stochastic dominance and a different dominance relationship which we call pointwise dominance. This provides the basis for making several comparisons of expected values of non-decreasing functions of random variables. We discuss economic problems for which the application of stochastic dominance results depends on this link. |
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