(a) In advancing our knowledge in Finance, it is argued that a theory should achieve three objectives...
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Question:
(a) In advancing our knowledge in Finance, it is argued that a theory should
achieve three objectives concurrently. It should enable a full cycle of
scientific research, formalize theory to tests and yield itself to practical
applications.
Using the Stochastic Dominance as an example critically discuss the fore-
going comments.
Be careful to define all the assumptions and notations used.
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