Stochastic Dominance without Transitive Preferences.

Abstract

Traditional definitions of stochastic dominance for decision analysis assume that the decision agent's preference-or-indifference relation on outcomes of risky decisions is transitive. This report proposes a stochastic dominance relation for the comparison of risky decisions that is applicable to any complete and reflexive preference-or-indifference relation, or to any asymmetric preference relation. The new dominance relation possesses a number of intuitively desirable properties and is equivalent to the usual stochastic dominance relation when preferences are transitive. (Author)

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Document Details

Document Type
Technical Report
Publication Date
Sep 01, 1977
Accession Number
ADA044685

Entities

People

  • Peter C. Fishburn

Organizations

  • Pennsylvania State University

Tags

Communities of Interest

  • C4I
  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Applied Mathematics
  • Business Administration
  • California
  • Electronics Laboratories
  • Engineering
  • Industrial Engineering
  • Information Exchange
  • Logistics Management
  • Mathematics
  • Military Research
  • North Carolina
  • Operations Research
  • Probability
  • Probability Distributions
  • Random Variables
  • Systems Engineering
  • United States

Fields of Study

  • Economics

Readers

  • Computational Linguistics
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.
  • Theoretical Analysis.