Generalized stochastic dominance and bad outcome aversion |
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| Authors: | Hans Peters Tim Schulteis Dries Vermeulen |
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| Affiliation: | 1. Department of Quantitative Economics, University of Maastricht, PO Box 616, 6200 MD, Maastricht, The Netherlands
2. APG, Heerlen, The Netherlands
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| Abstract: | Incomplete preferences over lotteries on a finite set of alternatives satisfying, besides independence and continuity, a property called bad outcome aversion are considered. These preferences are characterized in terms of their specific multi-expected utility representations (cf. Dubra et al., J Econ Theory, 115:118–133, 2004), and can be seen as generalized stochastic dominance preferences. |
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