and law-invariant functionals. Our results extend well-known results from the literature to a
large class of spaces of random variables. We sometimes obtain sharper versions, even for
the well-studied case of bounded random variables. Our approach builds on two
fundamental structural results for law-invariant functionals: the equivalence of law invariance
and Schur convexity, ie, monotonicity with respect to the convex stochastic order, and the …