Stronger measures of higher-order risk attitudes
AbstractThis paper aims to extend the results by Ross (1981)  and by Modica and Scarsini (2005)  to stochastic dominance of degree 4 and over. Specifically, it is shown that Ross' approach can be extended to any order of risk attitude beyond the generalization proposed by Modica and Scarsini by means of sth degree increase in risk defined by Ekern (1980) .
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -2353.
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Note: In : Journal of Economic Theory, 145(5), 2027, 2036, 2010
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