Comparison of Random Cash Flows

In this paper we provide stochastic-dominance conditions forrandom cumulated cash flows, when various criteria of choiceare assumed. Three (progressively finer) criteria are considered.The first one assumes only the expected utility principle. Thesecond one involves discounting and preference scaling. Thethird one involves discounting and preference scaling, too,but in reverse order. Our results are finally compared withother known results for the case of nonrandom cash flows.