期刊
ECONOMIC THEORY
卷 23, 期 3, 页码 701-714出版社
SPRINGER-VERLAG
DOI: 10.1007/s00199-003-0395-y
关键词
Yaari's dual theory; incomplete preferences; stochastic orders
类别
This note shows how Yaari (1987)'s dual theory of choice under risk naturally extends to the case of incomplete preferences. This also provides an axiomatic characterization of a large and widely studied class of stochastic orders used to rank the riskiness of random variables or the dispersion of income distributions (including, e.g., second order stochastic dominance, dispersion, location independent riskiness, see Chateauneuf, Cohen, and Meilijson, 1997).
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