Evaluating Risk Management Strategies Using Stochastic Dominance With A Risk Free Asset
The stochastic dominance with a risk free asset (SDRA) criteria are evaluated. Results show that the inclusion of the risk free asset (combined with the traditional assumptions of stochastic dominance) produce risk efficiency criteria that are very powerful at narrowing the risk management alternatives relevant for farm manager's further consideration.
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- Levy, Haim & Kroll, Yoram, 1976. "Stochastic Dominance with Riskless Assets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 11(05), pages 743-777, December.
- Levy, Haim & Kroll, Yoram, 1978. "Ordering Uncertain Options with Borrowing and Lending," Journal of Finance, American Finance Association, vol. 33(2), pages 553-74, May.
- Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economics Reports 34081, United States Department of Agriculture, Economic Research Service.
- 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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