COMPARING LOCAL RISKS BY ACCEPTANCE AND REJECTION
提出接受占优概念，证明在极短投资期限下该偏序变为全序，并给出两种风险指数，研究其与连续时间下其他风险度量的一致性。
It is said that risky asset h acceptance dominates risky asset k if any decision maker who rejects the investment in h also rejects the investment in k . While in general acceptance dominance is a partial order, we show that it becomes a complete order if only infinitely short investment time horizons are considered. Two indices that induce different variants of this order are proposed, absolute acceptance dominance and relative acceptance dominance, and their properties are studied. We then show that many indices of riskiness that are compatible with the acceptance dominance order coincide with our indices in the continuous‐time setup.