Traditional stochastic dominance rules are so strict and qualitative conditions that generally a stochastic dominance relation between two alternatives does not exist. To solve the problem, we firstly supplement the definitions of almost stochastic d...
Although a wide array of stochastic dominance tests exist for poverty measurement and identification, they assume the income distributions have independent poverty lines or a common absolute (fixed) poverty line. We propose a stochastic dominance tes...
Online reviews of hotels reflect tourist perception and evaluation, which are becoming an important perspective of studying hotel selection. In this paper, we prefer to use a probabilistic linguistic term set (PLTS) to fully reveal evaluation grades...
To test the relationships of stochastic dominance, this paper firstly proposes two new consistent K-S-type statistics based on a quantile rule. Then, we consider their asymptotic properties. We introduce the bootstrap method to calculate the p-values...
A stochastic dominance (SD) relation can be defined by two different perspectives: One from the view of distributions, and the other one from the view of expected utilities. In the early days, Fishburn investigated SD from the view of distributions,...
This paper examines whether small Islamic firms’ returns stochastically dominate (outperform) the returns of large Islamic firms using Ascending and Descending Stochastic Dominance (ASD and DSD) approaches. In other words, we investigate the si...
The paper compares portfolio optimization with the Second-Order Stochastic Dominance (SSD) constraints with mean-variance and minimum variance portfolio optimization. As a distribution-free decision rule, stochastic dominance takes into account the e...
Optimization problems become increasingly complicated in the era of big data and Internet of Things, which significantly challenges the effectiveness and efficiency of existing optimization methods. To effectively solve this kind of problems, this pa...
This paper provides a mathematical proof and theoretical analysis of the one-to-one consistency between higher-order Omega and Almost Stochastic Dominance rules when evaluating fund performance. The consistency between higher-order Omega and Almost N...
Both stochastic dominance and Omegaratio can be used to examine whether the market is efficient, whether there is any arbitrage opportunity in the market and whether there is any anomaly in the market. In this paper, we first study the relationship b...
This paper applies the mean-variance portfolio optimization (PO) approach and the stochastic dominance (SD) test to examine preferences for international diversification versus domestic diversification from American investors’ viewpoints. Our PO resu...
This paper re-examines the performance of REITs, stocks, and fixed-income assets based on the preferences of risk-averse and risk-seeking investors using mean-variance and stochastic dominance approaches. Our findings indicate no first-order stochast...
The portfolio optimization problem is the central problem of modern economics and decision theory; there is the Mean-Variance Model and Stochastic Dominance Model for solving this problem. In this paper, based on the second order stochastic dominance...
In the field of investment, how to construct a suitable portfolio based on historical data is still an important issue. The second-order stochastic dominant constraint is a branch of the stochastic dominant constraint theory. However, only considerin...
In this paper, we analyze, in a novel way, the nature of economic growth in Spain after the Great Recession, in relation to its effect on poverty reduction. We use a statistical test to analyze the pro-poorness nature of economic growth using a stoch...
Underwater sound generated by the rapidly increasing offshore wind farms worldwide greatly affects the underwater soundscape and may cause long-term cumulative effects on sound-sensitive marine organisms. However, its analysis and impact assessment a...
This research is the first attempt to customize a trading system that is based on second order stochastic dominance (SSD) to five known cryptocurrencies’ daily data: Bitcoin, Ethereum, XRP, Binance Coin, and Cardano. Results show that our syste...
Recent trends in portfolio management emphasize the importance of reducing carbon footprints and aligning investments with sustainable practices. This paper introduces Sensitivity Value-at-Risk (SensitivityVaR), an advanced distortion risk measure th...
The fishing industry in Abu-Dhabi, United Arab Emirates (UAE), plays an important role in diversifying food sources in order to enhance national food security. The fishing industry is facing an increasing risk that may impact the sustainability (i.e....
This paper focuses on the performance of Lithuanian life-cycle second-pillar pension funds. Every such fund first specifies its benchmark and then attempts to follow the benchmark in some way. This is a form of regulation, meaning that every such fun...
Precision agriculture technology can transform farming related data into useful information, which may lead to more efficient usage of agricultural resources and increase sustainability. This paper compares precision agriculture technology with tradi...
This study applied a broad continuum of risk analysis methods including mean-variance and coefficient of variation (CV) statistical criteria, second-degree stochastic dominance (SSD), stochastic dominance with respect to a function (SDRF), and stocha...
Since entering the era of the experience economy, consumers’ attention gradually turns toward gaining a pleasant service process experience. This study addresses the service process problem, aiming to discover the root cause of the service proc...
The pension landscape is changing due to the market situation, and technological change has enabled financial innovations. Pension savers usually seek financial advice to make a personalised decision in selecting the right pension fund for them. As s...
In the article, the semi-global finite-time control strategy for stochastic nonlinear systems is studied. Firstly, the general stochastic nonlinear system is considered and the required conditions are provided. An important theorem that helps to cons...
An enhanced snow geese algorithm (ESGA) is proposed to address the problems of the weakened population diversity and unbalanced search tendencies encountered by the snow geese algorithm (SGA) in the search process. First, an adaptive switching strate...
Portfolio selection models based on second-order stochastic dominance (SSD) have the advantage of providing portfolios that reflect the behavior of risk-averse investors without the need to specify the utility function. Several scholars apply SSD con...
The paper demonstrates the nonsense of using Bitcoin in financial investments. By using mean-variance financial analysis, stochastic dominance, CVaR, and the Shapley value theory as analytical statistical models, I show how Bitcoin performs poorly by...
We consider a two-dimensional model of three species in rock-paper-scissors competition and study the self-organisation of the population into fascinating spiraling patterns. Within our individual-based metapopulation formulation, the population comp...
Perceived quality is crucial for the functioning of clothing brands. However, accurate evaluation of the perceived quality of clothing brands remains a common challenge. To achieve a multidimensional evaluation of the perceived quality of clothing br...
Germinal centers (GCs) are specialized compartments within the secondary lymphoid organs where B cells proliferate, differentiate, and mutate their antibody genes in response to the presence of foreign antigens. Through the GC lifespan, interclonal c...
The problem explored in this article concerns the stability of the state feedback control of the upper-triangular stochastic nonlinear systems whose control coefficients are time-varying. First, the state feedback control of the corresponding nominal...
This paper introduces a complement statistical test for distinguishing between the predictive accuracy of two sets of forecasts. We propose a non-parametric test founded upon the principles of the Kolmogorov-Smirnov (KS) test, referred to as the KS P...
Food safety is a major risk for agribusiness firms. According to the Centers for Disease Control and Prevention (CDC), approximately 5000 people die annually, and 36,000 people are hospitalized as a result of foodborne outbreaks in the United States....
Observed international diversification implies an investment home bias (IHB). Can bivariate preferences with a local domestic peer group rationalize the IHB? For example, it is argued that wishing to have a large correlation with the Standard and Poo...
Little in the scholarly economics literature is directed specifically to the performance of stable value funds, although they occupy a leading place among retirement investment vehicles. They are currently offered in more than one-third of all define...
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This research examines the performance of the Islamic stock portfolio (ISP) and conventional stock portfolio (CSP) for the five industrial sectors and market in Malaysia. The capital asset pricing model statistics indicate that the ISP provides a hig...
This paper uses moment analysis, capital asset pricing model (CAPM) statistics, stochastic dominance (SD) test, and volume analysis to investigating why the market for Taiwan warrants can be sustained but not in China. Our moment analysis shows that...
Due to a broad consensus in the engaging of global economic integrations, host countries encounter a number of challenges, especially in international capital mobility. Foreign direct investment (FDI) becomes a pillar for economic development. This s...
Route planning under uncertain traffic conditions requires accounting for not only expected travel times but also the risk of late arrivals. This study proposes a mean-upper partial moment (MUPM) framework for pathfinding that explicitly considers tr...
The site selection plays an important role in the entire life cycle of a tidal power plant (TPP) project. However, some problems decrease the evaluation quality of TPP site selection: (a) suitable and effective methods are scarce since the TPP site s...
Anthropogenic disturbances, such as forest conversion, have a profound impact on species distributions and biodiversity in tropical forests. This study aimed to determine the diversity and distribution of bark and ambrosia beetles (Curculionidae: Sco...
Identifying productive, profitable, and less risky cropping systems is pivotal for ensuring sustainable farm–based livelihoods in the context of climatic uncertainties and market volatility, particularly in many developing nations. Conventional...
This study examines the evolution of the regional per capita income from the perspective of a policymaker at the national level. To do that, it utilizes stochastic dominance analysis by including a utility function that expresses the “regional...
Techniques based on terminated cover crops are proposed in organic agriculture instead of traditional inter-row tillage for weed control in subsequent grain crops. We estimated the profitability and evaluated the riskiness of novel techniques compare...
This article examines the determinants of household income among urban and rural areas in India and evaluates households’ performance with different characteristics in terms of poverty. It uses four rounds of data from the consumer expenditure...
The mechanisms underpinning the soil microbial community assembly are important, particularly in the fragile karst forest ecosystem. Despite such significance, relevant topics remain limited. We investigated a typical karst area, the Maolan National...
Cross entropy and Kullback–Leibler (K-L) divergence are fundamental quantities of information theory, and they are widely used in many fields. Since cross entropy is the negated logarithm of likelihood, minimizing cross entropy is equivalent to...
Fortet-Mourier (FM) probability metrics are important probability metrics, which have been widely adopted in the quantitative stability analysis of stochastic programming problems. In this study, we contribute to different types of convergence assert...
A spectrum of upper bounds (Qα(X ; p) αε[0,∞] on the (largest) (1-p)-quantile Q(X;p) of an arbitrary random variable X is introduced and shown to be stable and monotonic in α, p, and X , with Q0(X ;p) = Q(X;p). If p is small enough and...
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