(PDF) Stochastic Dominance by Haim Levy

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    Stochastic Dominance
    Investment Decision Making Under Uncertainty

    by Haim Levy

    🔗 Stochastic Dominance · CLICK HERE 🔗

    • ISBN: 9780387293028 (0387293027)
    • Release date: February 23, 2006
    • Publisher: Springer
    • Author: Haim Levy
    • Format: hardcover
    • Language: english

    About The Book

    This second edition of Stochastic Dominance is devoted to investment decision making under uncertainty. The book covers four basic approaches to this process: a) The stochastic dominance (SD) approach, developed on the foundation of von-Neumann and Morgenstem DEGREES expected utiHty paradigm. b) The mean-variance approach developed by Markowitz DEGREES on the foundation of von-Neumann and Morgenstern’s expected utility or simply on the assumption of a utility function based on mean and variance. c) The “almost” stochastic dominance (ASD) rules and the “almost” me- variance rule (AMV). No matter whether one employs objective or subjective probabilities, the common stochastic dominance criteria and the mean variance rule may lead to paradoxes: they are unable to rank prospect A w DEGREEShich yields $1 with a probability of 0.01 and a million dollars with probability of 0.99, and prospect B which yields $2 with certainty. This is an absurdity as in any sample of subjects one takes, 100% of subjects choose A. The “almost” stochastic dominance criteria and “almost” mean variance rule, which have been recently been developed by Leshno and Levy in 2002 DEGREES, suggest a

    Hardback Stochastic Dominance by Haim Levy read. Paperback book Stochastic Dominance download on PocketBook on Barnes & Noble. MP3 ebook Stochastic Dominance Haim Levy reader.

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