Stochastic Dominance: Investment Decision Making under Uncertainty

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Household income strategies and natural disasters: Dynamic livelihoods in rural Nicaragua (2010, background): “While firstorder stochastic dominance requires that the dominating strategy has a lower cumulative density for every possible consumption level, for second-order stochastic dominance it is sufficient that the area between the two density curves where A is below B is larger than the area between the ”
Revisiting the Evidence for a Cardinal Treatment of Ordinal Variables (2015, neutral): “If a variable is ordinal, it implies that it obeys the rules of stochastic dominance (Levy, 2006).”