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Comparative Statics on the Left-Side Relatively Weak First-Degree Stochastic Dominance Order and Its Applications
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- Authors
- Issue Date
- 2003-01
- Citation
- Seoul Journal of Economics, Vol.16 No.1, pp. 59-70
- Keywords
- monotone likelihood ratio order ; left-side ; L-MLR ; FSD
- Abstract
- This paper proposes a new concept of the left-side relatively weak first-degree stochastic dominance (L-RWFSD) order that extends the monotone likelihood ratio (MLR) order and the left-side monotone likelihood ratio (L-MLR) order. We show that this shift is a larger subset of FSD shifts than the MLR shift and the L-MLR shift that derive the same comparative statics results.
- ISSN
- 1225-0279
- Language
- English
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