IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v67y1985i2p289-295..html
   My bibliography  Save this article

Improving the Efficiency of Stochastic Dominance Techniques Using Convex Set Stochastic Dominance

Author

Listed:
  • Mark J. Cochran
  • Lindon J. Robison
  • Weldon Lodwick

Abstract

The advantages of convex set stochastic dominance (CSD) are discussed in terms of extending other stochastic dominance criteria in a way which will decrease Type II errors (large efficient sets) without increasing the Type I errors (inaccurate rankings). An empirical example ranking pest management strategies demonstrates the potential of CSD by reducing the efficiency set by almost 60% without imposing additional constraints on the preference set. It is suggested that CSD may permit more imprecise representations of risk preferences, avoiding utility measurement problems, and still identify efficient sets of acceptable sizes.

Suggested Citation

  • Mark J. Cochran & Lindon J. Robison & Weldon Lodwick, 1985. "Improving the Efficiency of Stochastic Dominance Techniques Using Convex Set Stochastic Dominance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(2), pages 289-295.
    • Handle: RePEc:oup:ajagec:v:67:y:1985:i:2:p:289-295.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1240681
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:67:y:1985:i:2:p:289-295.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.