A stochastic dominance test under survey nonresponse with an application to comparing trust levels in Lebanese public institutions

Decision criteria in risk analysis : an application of stochastic dominance with respect to a function

An Application of the Stochastic Optimal Control Algorithm (OPTCON) to the Public Sector Economy of Iran

In this paper we first describe the stochastic optimal control algorithm called ((OPTCON)). The algorithm minimizes an intertemporal objective loss function subject to a nonlinear dynamic system in order to achieve optimal value of control (or instrument) variables. Second as an application, we implemented the algorithm by the statistical programming system ((GAUSS)) to determine the optimal fi...

Competence of Public Institutions in Food Safety Control: A Consumer Perception Survey in Ghana

Background: Ensuring food safety and minimizing risks require coordinated efforts of various institutions. The objective of this study was to determine how Ghanaian consumers score the competence of public institutions in controlling food safety risks and the effects of this perceived score on their level of concerns about food safety risks. Methods: Totally, semi-structured questionnaire admi...

A survey of recent advances in forecast accuracy comparison testing, with an extension to stochastic dominance

In recent years, an impressive body or research on predictive accuracy testing and model comparison has been published in the econometrics discipline. Key contributions to this literature include the paper by Diebold and Mariano (DM: 1995) that sets the groundwork for much of the subsequent work in the area, West (1996) who considers a variant of the DM test that allows for parameter estimation...

An Empirical Method of Comparing Risks Using Stochastic Dominance

The need to evaluate risks, in either the investment or the insurance component of business, is a primary task of the actuary. Mathematical constructs for risk assessment using expected utility theory are problematic for practical use. One reason is that the elicitation of the utility function is difficult or impossible in most situations. Second, data related to risk choices contain noise that...