Stochastic Dominance and Applications to Finance, Risk and Economics (Paperback)
  • Stochastic Dominance and Applications to Finance, Risk and Economics (Paperback)
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Stochastic Dominance and Applications to Finance, Risk and Economics (Paperback)

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£59.99
Paperback 455 Pages / Published: 28/06/2017
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Drawing from many sources in the literature, Stochastic Dominance and Applications to Finance, Risk and Economics illustrates how stochastic dominance (SD) can be used as a method for risk assessment in decision making. It provides basic background on SD for various areas of applications.

Useful Concepts and Techniques for Economics Applications

The majority of the text presents a systematic exposition of SD, emphasizing rigor and generality. It covers utility theory, multivariate SD, quantile functions, risk modeling, Choquet integrals, other risk measures, statistical inference, nonparametric estimation, hypothesis testing, and econometrics. The remainder of the book explores new applications of SD in finance, risk, and economics. At the beginning of each economic concept, the authors clearly explain only the necessary mathematics so readers are not overburdened with learning nonessential, arduous mathematics.

This accessible guide helps readers build a useful repertoire of mathematical tools in decision making under uncertainty, especially in investment science. It provides thorough coverage on the theory of SD, along with many applications to economics and other fields where risk is crucial.

Publisher: Taylor & Francis Ltd
ISBN: 9781138117990
Number of pages: 455
Weight: 658 g
Dimensions: 235 x 159 mm


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The book helps readers in building a useful repertoire of mathematical tools in decision making under uncertainty, especially in investment science, and provides thorough coverage on the theory of SD, along with many applications to economics and other fields where risk is crucial. Given these, it may be used as a textbook for a course on stochastic dominance for beginners as well as a solid reference book for researchers, especially in the field of economics.
-Zentralblatt MATH 1180

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