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Inequality Orderings, Normalized Stochastic Dominance, and Statistical Inference

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  • Zheng, Buhong, et al

Abstract

This article derives large-sample properties and provides asymptotically distribution-free statistical inference procedures for an alternative approach to inequality orderings--normalized stochastic dominance (NSD). NSD is a straightforward extension of standard dominance techniques. As such, it can be generalized to higher orders of dominance, thereby providing a more powerful technique for ranking distributions. We illustrate the NSD method by applying it to Current Population Survey data for 1970-90.

Suggested Citation

  • Zheng, Buhong, et al, 2000. "Inequality Orderings, Normalized Stochastic Dominance, and Statistical Inference," Journal of Business & Economic Statistics, American Statistical Association, vol. 18(4), pages 479-488, October.
    • Handle: RePEc:bes:jnlbes:v:18:y:2000:i:4:p:479-88
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    Cited by:

    1. Jean-Yves Duclos & Paul Makdissi, 2007. "Restricted Inequality and Relative Poverty," Research on Economic Inequality, in: Inequality and Poverty, pages 255-280, Emerald Group Publishing Limited.
    2. Lean, Hooi-Hooi & Wong, Wing-Keung & Zhang, Xibin, 2008. "The sizes and powers of some stochastic dominance tests: A Monte Carlo study for correlated and heteroskedastic distributions," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 79(1), pages 30-48.
    3. Kuan Xu, 2007. "U-Statistics and Their Asymptotic Results for Some Inequality and Poverty Measures," Econometric Reviews, Taylor & Francis Journals, vol. 26(5), pages 567-577.
    4. Jean‐Yves Duclos & Paul Makdissi, 2004. "Restricted and Unrestricted Dominance for Welfare, Inequality, and Poverty Orderings," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 6(1), pages 145-164, February.
    5. Chow, Victor & Lai, Christine W., 2015. "Conditional Sharpe Ratios," Finance Research Letters, Elsevier, vol. 12(C), pages 117-133.
    6. Christopher J. Bennett, 2009. "Consistent and Asymptotically Unbiased MinP Tests of Multiple Inequality Moment Restrictions," Vanderbilt University Department of Economics Working Papers 0908, Vanderbilt University Department of Economics.
    7. Buhong Zheng, 2018. "Almost Lorenz dominance," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 51(1), pages 51-63, June.
    8. Buhong Zheng, 2021. "Stochastic dominance and decomposable measures of inequality and poverty," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 23(2), pages 228-247, April.
    9. Gordon Anderson, 2008. "The empirical assessment of multidimensional welfare, inequality and poverty: Sample weighted multivariate generalizations of the Kolmogorov–Smirnov two sample tests for stochastic dominance," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 6(1), pages 73-87, March.

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