S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics Seoul Journal of Economics vol.16(1) (Spring 2003)
Comparative Statics on the Left-Side Relatively Weak First-Degree Stochastic Dominance Order and Its Applications
- Ryu, Suyeol; Kim, Iltae
- Issue Date
- Seoul Journal of Economics, Vol.16 No.1, pp. 59-70
- 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.