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    MANSCI
    2006
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    Stochastic Dominance and Cumulative Prospect Theory
    13 years 11 months ago
    Stochastic Dominance and Cumulative Prospect Theory
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    Second order stochastic dominance characterizes risk-averse preferences represented by expected utility. This paper supplies second order stochastic dominance conditions that char...
    Manel Baucells, Franz H. Heukamp
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