Abstract

A statistic is a mapping from bounded random variables to real numbers. We characterize all statistics that are monotone with respect to first-order stochastic dominance, and are additive with respect to independent random variables. As an application, we characterize which gambles can be chosen uniformly across wealth levels under some monotone preference.

Joint work with Luciano Pomatto, Philipp Strack and Omer Tamuz

Biography

Xiaosheng Mu is currently an assistant professor of economics at Princeton University. Before moving to Princeton, he spent one year at Columbia University and the previous year at the Cowles Foundation at Yale University as a postdoctoral researcher. He obtained a bachelor's degree in mathematics and economics from Yale, and a PhD in economics from Harvard University. His research interests lie in microeconomic theory, specifically information acquisition and mechanism design. More recently, he is also interested in stochastic orders and their application to the comparison of experiments and to decision theory.

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