A note on almost stochastic dominance

Xu Guo, Xuehu Zhu, Wing Keung WONG, Lixing ZHU*

*Corresponding author for this work

Research output: Contribution to journalJournal articlepeer-review

24 Citations (Scopus)


Both the expected-utility maximization and the hierarchy property are very important properties in stochastic dominance. For almost stochastic dominance, Leshno and Levy (2002) propose a definition and Tzeng etal. (2013) modified it to give another definition. This note provides more information on the two definitions. The former has the hierarchy property but not the expected-utility maximization, whereas the latter has the expected-utility maximization but not the hierarchy property.

Original languageEnglish
Pages (from-to)252-256
Number of pages5
JournalEconomics Letters
Issue number2
Publication statusPublished - Nov 2013

Scopus Subject Areas

  • Finance
  • Economics and Econometrics

User-Defined Keywords

  • Almost stochastic dominance
  • Expected-utility maximization
  • Hierarchy property
  • Risk averter


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