Stochastic dominance in nonlinear utility theory.

This paper combines notions of univariate stochastic dominance with nontransitive and nonlinear generalizations of expected utility. Introductory remarks are followed by comments on the use of first-degree stochastic dominance in transitive nonlinear utility theory for decision under risk. We then show how the first few degrees of stochastic dominance apply to a general utility model that allows intransitivities. The paper concludes by discussing the relevance of first-degree stochastic dominance in Savage's formulation of decision under certainty.