出版社：Publishing House of the University of Economics in Katowice
摘要：According to the expected utility paradigm,the risk of the investment must be related to the assumed preference of the investor and cannot be objectively defined. A natural quantitative definition of the risk is the amount of money one is willing,on average,to pay someone else to assume the risk. In the empirical study we have problem with ranking alternatives in the area of the financial issues. The classical method for ranking the alternatives is based on comparing means and variances of two alternatives (mean-variance criterion) [6]. Rothschild and Stiglitz suggest new look on the risk for two distributions characterised by the same expected return [8]. They used the stochastic dominance rules for describing more risky asset. In the empirical study when we do not observe the stochastic dominance,we can use additionally a probabilistic dominance.
