Relations between stochastic orderings and generalized stochastic precedence. (English) Zbl 1370.60029
Summary: The concept of stochastic precedence between two real-valued random variables has often emerged in different applied frameworks. In this paper, we analyze several aspects of a more general, and completely natural, concept of stochastic precedence that also had appeared in the literature. In particular, we study the relations with the notions of stochastic ordering. Such a study leads us to introducing some special classes of bivariate copulas. Motivations for our study can arise from different fields. In particular, we consider the frame of target-based approach in decisions under risk. This approach has been mainly developed under the assumption of stochastic independence between “prospects” and “targets”. Our analysis concerns the case of stochastic dependence.
MSC:
| 60E15 | Inequalities; stochastic orderings |
References:
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