Title: An Axiomatic Approach to Measuring Degree of Stochastic Dominance
Abstract: In recent years, a range measures or of stochastic dominance have been introduced. These measures attempt to determine the extent to which one distribution is dominated by another. In order to systematically assess these proposed measures and their relationship to partial stochastic dominance, we adopt an axiomatic approach. We propose axioms for measuring degree stochastic dominance and study the relationship between them. Among other findings, we show that one and only one measure satisfies all the axioms.
Publication Year: 2014
Publication Date: 2014-11-01
Language: en
Type: preprint
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