1. Excess wealth order and sample spacings
- Author
-
Subhash C. Kochar, Xiaohu Li, and Maochao Xu
- Subjects
Statistics and Probability ,Combinatorics ,Order (group theory) ,Sample (statistics) ,Mathematical economics ,Variable (mathematics) ,Mathematics - Abstract
In this note, we further study the properties of excess wealth (or right spread) order and the location independent riskier order. It is proved that if X is less variable than Y according to excess wealth order, then X n : n − X k : n ≤ icx Y n : n − Y k : n for k = 0 , 1 , … , n − 1 , where X 0 : n = Y 0 : n ≡ 0 . Similar results are obtained for location independent riskier order. An application in k -price business auction models is presented as well.
- Published
- 2007