Affiliation:
1. Division of Social Science, New York University Abu Dhabi (email: )
Abstract
It is well known that stochastic dominance is equivalent to a unanimity property for monotone expected utilities. For lotteries over a finite set of prizes, we establish an analogous relationship between likelihood ratio dominance and monotone betweenness preferences, which are an important generalization of expected utility. (JEL D11, D44)
Publisher
American Economic Association
Cited by
2 articles.
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