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Generalized stochastic dominance and bad outcome aversion

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Author Info

  • Hans Peters

    ()

  • Tim Schulteis

    ()

  • Dries Vermeulen

    ()

Abstract

Incomplete preferences over lotteries on a ¯nite set of alternatives satisfying, besides independence and continuity, a property called bad outcome aversion are considered. These preferences are characterized in terms of their speci¯c multi-expected utility representations (cf. Dubra et al., 2004), and can be seen as generalized stochastic dominance preferences.

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File URL: http://hdl.handle.net/10.1007/s00355-010-0441-1
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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 35 (2010)
Issue (Month): 2 (July)
Pages: 285-290

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Handle: RePEc:spr:sochwe:v:35:y:2010:i:2:p:285-290

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  1. Fishburn, Peter C., 1976. "Continua of stochastic dominance relations for bounded probability distributions," Journal of Mathematical Economics, Elsevier, vol. 3(3), pages 295-311, December.
  2. Juan Dubra & Fabio Maccheroni & Efe Oki, 2001. "Expected utility theory without the completeness axiom," ICER Working Papers - Applied Mathematics Series 11-2001, ICER - International Centre for Economic Research.
  3. Andres Perea & Hans Peters & Tim Schulteis & Dries Vermeulen, 2006. "Stochastic dominance equilibria in two-person noncooperative games," International Journal of Game Theory, Springer, vol. 34(4), pages 457-473, November.
  4. Haim Levy, 1992. "Stochastic Dominance and Expected Utility: Survey and Analysis," Management Science, INFORMS, vol. 38(4), pages 555-593, April.
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