Special Issue on Stochastic Dominance

Stochastic dominance (SD) is a fundamental concept in decision theory which describes the condition under which one prospect is preferred over another prospect by all agents belonging to a given class of preferences. According to the characteristics of the sets of the utility functions, stochastic dominance can be classified into first-order, second-order, third-order as well as higher order stochastic dominance. These rules can be extended to include the riskless asset. Although originally stochastic dominance has been developed for investments partial ranking, nowadays these decision rules are employed in agriculture, in medicine, in statistics, in measuring welfare and income in equality and many more research areas. The goal of this special issue is to provide a platform for scientists and academicians all over the world to suggest new ideas and application of the stochastic dominance rules.

In this special issue, we intend to invite front-line researchers and authors to submit original research and review articles on exploring stochastic dominance. Potential topics include, but are not limited to:

• SD and economic welfare (income distribution and income inequality)
• The effectiveness of SD sufficient but not necessary rules
• SD rules and the investment horizon
• SD with bivariate preference
• SD equilibrium prices
• Experimental SD results
• Testing for the Almost SD (ASD)
• Prospect Theory and SD
• Empirical testing for SD rules with and without the riskless asset
• Contrasting the SD rules and the Mean Variance (MV) rule
• The efficient set of Mutual Funds sorted by MV and SD rules
• The utility loss when MV is employed where the distributions are not normal relative to the SD choices

Authors should read over the journal’s For Authors carefully before submission. Prospective authors should submit an electronic copy of their complete manuscript through the journal’s Paper Submission System.

Please kindly specify the “Special Issue” under your manuscript title. The research field “Special Issue - Stochastic Dominance” should be selected during your submission.

According to the following timetable:

Guest Editor:

For further questions or inquiries

Please contact Editorial Assistant at

jmf@scirp.org