Violations of first-order stochastic dominance-Reference-Cited by-同舟云学术

Violations of first-order stochastic dominance

Published:2023-10-06 Issue:2 Volume:9 Page:239-251
ISSN:2199-6784
Container-title:Journal of the Economic Science Association
language:en
Short-container-title:J Econ Sci Assoc

Author:

Williams Brett^ORCID

Abstract

AbstractI find necessary and sufficient conditions for first-order stochastic dominance (FOSD) violations for choices from a budget line of Arrow securities. Applying this characterization to existing data, I compare FOSD violation rates across a broad set of risk preference elicitation tasks.

Funder

National Science Foundation

University of New South Wales

Publisher

Springer Science and Business Media LLC

Subject

General Medicine

Link

https://link.springer.com/content/pdf/10.1007/s40881-023-00142-6.pdf

Reference15 articles.

1. Apesteguia, Jose, & Ballester, Miguel A. (2018). Monotone stochastic choice models: The case of risk and time preferences. Journal of Political Economy, 126(1), 74–106.

2. Charness, Gary, Karni, Edi, & Levin, Dan. (2007). Individual and group decision making under risk: An experimental study of bayesian updating and violations of first-order stochastic dominance. Journal of Risk and uncertainty, 35(2), 129–148.

3. Charness, Gary, Eckel, Catherine, Gneezy, Uri, & Kajackaite, Agne. (2018). Complexity in risk elicitation may affect the conclusions: A demonstration using gender differences. Journal of Risk and Uncertainty, 56(1), 1–17.

4. Choi, Syngjoo, Fisman, Raymond, Gale, Douglas, & Kariv, Shachar. (2007). Consistency and heterogeneity of individual behavior under uncertainty. The American Economic Review, 97(5), 1921–1938.

5. Choi, Syngjoo, Kariv, Shachar, Müller, Wieland, & Silverman, Dan. (2014). Who is (more) rational? American Economic Review, 104(6), 1518–50.