Not sure I follow this but doesn’t the very notion of stochastic dominance arise only when we have two distinct probability distributions? In this scenario the distribution of the outcomes is held fixed but the net expected utility is determined by weighing the outcomes based on other critera (such as risk aversion or aversion to no-difference).
Even if we’re difference-making risk averse, we still have and should still compare multiple distributions of outcomes to decide between options, so SD would be applicable.
Not sure I follow this but doesn’t the very notion of stochastic dominance arise only when we have two distinct probability distributions? In this scenario the distribution of the outcomes is held fixed but the net expected utility is determined by weighing the outcomes based on other critera (such as risk aversion or aversion to no-difference).
Even if we’re difference-making risk averse, we still have and should still compare multiple distributions of outcomes to decide between options, so SD would be applicable.