问题描述：
英语翻译
If the SMD is not verified,we can try the higher degree dominance TMD.The TMD is proven for a concave class of utility functions with decreasing absolute risk aversion (see Whitmore,1970).Higher degree dominances than the TSD demand higher
degree derivatives of the utility function,and they are not often observed in practice.Moreover,in the probabilistic case,according to Levy and Sarnat (1894),first-degree stochastic dominance (FSD) is observed in about 60% of comparisons between two probability distributions.If we add the second-order (SSD) or third-order (TSD) stochastic dominance cases to the FSD,cases we obtain a sufficiently high percentage of situations in which we could conclude that ‘‘ai is at least as good as aj’’ (see Zaras and Martel,1994).
If the SMD is not verified,we can try the higher degree dominance TMD.The TMD is proven for a concave class of utility functions with decreasing absolute risk aversion (see Whitmore,1970).Higher degree dominances than the TSD demand higher
degree derivatives of the utility function,and they are not often observed in practice.Moreover,in the probabilistic case,according to Levy and Sarnat (1894),first-degree stochastic dominance (FSD) is observed in about 60% of comparisons between two probability distributions.If we add the second-order (SSD) or third-order (TSD) stochastic dominance cases to the FSD,cases we obtain a sufficiently high percentage of situations in which we could conclude that ‘‘ai is at least as good as aj’’ (see Zaras and Martel,1994).
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