Stochastic dominance representation of optimistic belief: Theory and applications

Yusuke Osaki, John Quiggin

Research output: Contribution to journal › Article

Abstract

This note gives a stochastic dominance representation of more optimistic belief in rank dependent expected utility. Applying this observation, we can demonstrate the effect of more optimistic belief on economic decisions and equilibria under risk making comparative static analysis.

Original languageEnglish
Pages (from-to)275-278
Number of pages4
JournalEconomics Letters
Volume101
Issue number3
DOIs
Publication statusPublished - 2008 Dec 1
Externally publishedYes

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Stochastic dominance
Economics
Comparative static analysis
Rank-dependent expected utility

Keywords

  • Comparative statics
  • Optimistic belief
  • Rank dependent expected utility
  • Stochastic dominance

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

Cite this

Stochastic dominance representation of optimistic belief : Theory and applications. / Osaki, Yusuke; Quiggin, John.

In: Economics Letters, Vol. 101, No. 3, 01.12.2008, p. 275-278.

Research output: Contribution to journal › Article

Osaki, Y & Quiggin, J 2008, 'Stochastic dominance representation of optimistic belief: Theory and applications', Economics Letters, vol. 101, no. 3, pp. 275-278. https://doi.org/10.1016/j.econlet.2008.09.005
Osaki Y, Quiggin J. Stochastic dominance representation of optimistic belief: Theory and applications. Economics Letters. 2008 Dec 1;101(3):275-278. https://doi.org/10.1016/j.econlet.2008.09.005
Osaki, Yusuke ; Quiggin, John. / Stochastic dominance representation of optimistic belief : Theory and applications. In: Economics Letters. 2008 ; Vol. 101, No. 3. pp. 275-278.
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