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| Goh, Siew; Shih, Chao-Chyuan; Cochran, Mark J.; Raskin, Rob. |
| A microcomputer program to perform Generalized Stochastic Dominance (GSD), Quasi-Second Degree Dominance (SSD), and Quasi-First Degree Stochastic Dominance (FSD) is described. The program is designed to run on IBM-compatible personal computers with a Hercules or CGA graphics adapter. It is menu-driven and has options for GSD, quasi-FSD, quasi-SSD, graphics, and calculations of premiums associated with use of dominant distributions. |
| Tipo: Journal Article |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1989 |
URL: http://purl.umn.edu/30109 |
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| Raskin, Rob; Cochran, Mark J.. |
| The Pratt-Arrow measure of absolute risk aversion, as defined by r(x)=-un(x)/u1(x), is well known to be invariant to linear transformations. However, this invariance property applies with respect to transformations of u and not with respect to arbitrary rescalings of the outcome variables, x. The effects of this misunderstanding has led to ambiguity in classifying attitudes by risk aversion coefficients. It is shown that inappropriate rescalings of the outcome variable can lead to inaccurate rankings produced by generalized stochastic dominance. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1986 |
URL: http://purl.umn.edu/32243 |
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