Studies in Risk and Uncertainty

Stochastic Dominance

Investment Decision Making under Uncertainty

Editors: Levy, Haim (Ed.)

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eBook $209.00
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  • ISBN 978-0-387-29311-0
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Softcover $269.00
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About this book

Stochastic Dominance is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: The stochastic dominance approach; the mean-variance approach; and the non-expected utility approach, focusing on prospect theory and its modified version, cumulative prospect theory.
These approaches are discussed and compared in this book. In addition, this volume examines cases in which stochastic dominance rules coincide with the mean-variance rule and cases in which contradictions between these two approaches may occur. It then discusses the relationship between stochastic dominance rules and prospect theory, and establishes a new investment decision rule which combines the two and which we call prospect stochastic dominance. Although all three approaches are discussed, most of the book is devoted to the stochastic dominance paradigm.

Reviews

From the reviews of the second edition:

"This book is an economics book about stochastic dominance. … is certainly a valuable reference for graduate students interested in decision making under uncertainty. It investigates and compares different approaches and presents many examples. Moreover, empirical studies and experimental results play an important role in this book, which makes it interesting to read." (Nicole Bäuerle, Mathematical Reviews, Issue 2007 d)


Table of contents (1 chapters)

Buy this book

eBook $209.00
price for USA (gross)
  • ISBN 978-0-387-29311-0
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $269.00
price for USA
  • ISBN 978-1-4419-3983-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Stochastic Dominance
Book Subtitle
Investment Decision Making under Uncertainty
Editors
  • Haim Levy
Series Title
Studies in Risk and Uncertainty
Series Volume
12
Copyright
2006
Publisher
Springer US
Copyright Holder
Springer-Verlag US
eBook ISBN
978-0-387-29311-0
DOI
10.1007/0-387-29311-6
Softcover ISBN
978-1-4419-3983-8
Series ISSN
0926-972X
Edition Number
2
Number of Pages
XIII, 439
Topics