Multivariate Discrete First Order Stochastic Dominance

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Multivariate Discrete First Order Stochastic Dominance

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Finn Tarp (Department of Economics, University of Copenhagen)
Lars Peter Østerdal (Department of Economics, University of Copenhagen)

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Finn Tarp

Abstract

This paper characterizes the principle of first order stochastic dominance in a multivariate discrete setting. We show that a distribution f first order stochastic dominates distribution g if and only if f can be obtained from g by iteratively shifting density from one outcome to another that is better. For the bivariate case, we develop the theoretical basis for an algorithmic dominance test that is easy to implement.

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Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 07-23.

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Length: 23 pages
Date of creation: Oct 2007
Date of revision:
Handle: RePEc:kud:kuiedp:0723

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Find related papers by JEL classification:
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
I32 - Health, Education, and Welfare - - Welfare and Poverty - - - Measurement and Analysis of Poverty
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

This paper has been announced in the following NEP Reports:

NEP-ALL-2007-10-27 (All new papers)
NEP-UPT-2007-10-27 (Utility Models & Prospect Theory)

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Other versions:
- Duclos, Jean-Yves & Sahn, David & Younger, Stephen D., 2001. "Robust Multidimensional Poverty Comparisons," Cahiers de recherche 0115, Université Laval - Département d'économique. [Downloadable!]

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