Sufficient Conditions for Dominance of Simply Related Prospects
Sufficient conditions for dominance of simply related prospects are developed for newly defined classes of limited-variation-in-risk-parameter utility functions. Necessary and sufficient conditions are given for classes of contant-risk-parameter utility functions. The latter include classes of quadratic, power and exponential utility functions. The conditions can be incorporated into easily implemented procedures for locating efficient prospects.
Volume (Year): 55 (1987)
Issue (Month): 01 (April)
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- Meyer, Jack, 1977. "Second Degree Stochastic Dominance with Respect to a Function," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 477-487, June.
- G. Hanoch & H. Levy, 1969. "The Efficiency Analysis of Choices Involving Risk," Review of Economic Studies, Oxford University Press, vol. 36(3), pages 335-346.
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