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Stochastic Dominance

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  • Russell Davidson

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Abstract

The concept of stochastic dominance is defined, and its relation to welfare, poverty, and income inequality explained. A brief discussion is provided of how statistical inference may be performed for hypotheses relating to stochastic dominance.

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File URL: http://www.mcgill.ca/files/economics/stochasticdominance.pdf
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Bibliographic Info

Paper provided by McGill University, Department of Economics in its series Departmental Working Papers with number 2006-19.

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Length: 10 pages
Date of creation: Sep 2006
Date of revision:
Handle: RePEc:mcl:mclwop:2006-19

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References

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  1. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
  2. Kakwani, Nanak, 1993. "Statistical Inference in the Measurement of Poverty," The Review of Economics and Statistics, MIT Press, vol. 75(4), pages 632-39, November.
  3. Anderson, Gordon, 1996. "Nonparametric Tests of Stochastic Dominance in Income Distributions," Econometrica, Econometric Society, vol. 64(5), pages 1183-93, September.
  4. Wolak, Frank A., 1989. "Testing inequality constraints in linear econometric models," Journal of Econometrics, Elsevier, vol. 41(2), pages 205-235, June.
  5. Kaur, Amarjot & Prakasa Rao, B.L.S. & Singh, Harshinder, 1994. "Testing for Second-Order Stochastic Dominance of Two Distributions," Econometric Theory, Cambridge University Press, vol. 10(05), pages 849-866, December.
  6. Russell Davidson & Jean-Yves Duclos, 2000. "Statistical Inference for Stochastic Dominance and for the Measurement of Poverty and Inequality," Econometrica, Econometric Society, vol. 68(6), pages 1435-1464, November.
  7. Bishop, John A & Chow, K Victor & Zheng, Buhong, 1995. "Statistical Inference and Decomposable Poverty Measures," Bulletin of Economic Research, Wiley Blackwell, vol. 47(4), pages 329-40, October.
  8. repec:cup:etheor:v:10:y:1994:i:5:p:849-66 is not listed on IDEAS
  9. Shorrocks, Anthony F, 1983. "Ranking Income Distributions," Economica, London School of Economics and Political Science, vol. 50(197), pages 3-17, February.
  10. Beach, Charles M & Richmond, James, 1985. "Joint Confidence Intervals for Income Shares and Lorenz Curves," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(2), pages 439-50, June.
  11. Atkinson, A B, 1987. "On the Measurement of Poverty," Econometrica, Econometric Society, vol. 55(4), pages 749-64, July.
  12. Ian Rongve, 1997. "Statistical inference for poverty indices with fixed poverty lines," Applied Economics, Taylor & Francis Journals, vol. 29(3), pages 387-392.
  13. Garry F. Barrett & Stephen G. Donald, 2003. "Consistent Tests for Stochastic Dominance," Econometrica, Econometric Society, vol. 71(1), pages 71-104, January.
  14. Jenkins, Stephen P & Lambert, Peter J, 1997. "Three 'I's of Poverty Curves, with an Analysis of UK Poverty Trends," Oxford Economic Papers, Oxford University Press, vol. 49(3), pages 317-27, July.
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Citations

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Cited by:
  1. Liu, Xuanli & Miller, Gay Y. & McNamara, Paul E., 2003. "Do Antibiotics Reduce Production Risk For U.S. Pork Producers?," 2003 Annual meeting, July 27-30, Montreal, Canada 22026, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. Abhay Abhyankar & Keng-Yu Ho & Huainan Zhao, 2005. "Long-run post-merger stock performance of UK acquiring firms: a stochastic dominance perspective," Applied Financial Economics, Taylor & Francis Journals, vol. 15(10), pages 679-690.
  3. Michael C. Burda & Bernd Fitzenberger & Alexander Lembcke & Thorsten Vogel, 2008. "Unionization, Stochastic Dominance, and Compression of the Wage Distribution: Evidence from Germany," SFB 649 Discussion Papers SFB649DP2008-041, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  4. Sami Bibi, 2006. "Growth with Equity is Better for the Poor," Cahiers de recherche 0640, CIRPEE.
  5. Sami Bibi & Jean-Yves Duclos, 2003. "Equity and Policy Effectiveness with Imperfect Targeting," Cahiers de recherche 0335, CIRPEE.
  6. Oliver Linton1 & Kyungchul Song & Yoon-Jae Whang, 2008. "Bootstrap Tests of Stochastic Dominance with Asymptotic Similarity on the Boundary," PIER Working Paper Archive 08-006, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  7. Brian Nolan & Bertrand Maitre, 2000. "A Comparative Perspective on Trends in Income Inequality in Ireland," The Economic and Social Review, Economic and Social Studies, vol. 31(4), pages 329-350.
  8. Dominic Gasbarro & Wing-Keung Wong & J. Kenton Zumwalt, 2007. "Stochastic Dominance Analysis of iShares," The European Journal of Finance, Taylor & Francis Journals, vol. 13(1), pages 89-101.
  9. Sami Bibi, 2005. "When is Economic Growth Pro-Poor? Evidence from Tunisia," Cahiers de recherche 0522, CIRPEE.
  10. Benoit Tarroux, 2006. "Are Equalization Payments Making Canadians Better Off? A Two-Dimensional Dominance Answer," IDEP Working Papers 0608, Institut d'economie publique (IDEP), Marseille, France, revised 15 Nov 2006.
  11. Boèvi Kouglo Lawson Body & Kokou Baninganti & Etsri Homevoh & Etse Adjo Lamadokou, 2007. "Analyse comparative de l'état de pauvreté et d'inégalité au Togo: une approche multidimensionnelle basée sur l'indice de richesse/Comparative Analysis of Poverty and Inequality in Togo: a Multidi," Working Papers PMMA 2007-10, PEP-PMMA.
  12. Mireille Bardos, 2007. "What is at stake in the construction and use of credit scores?," Computational Economics, Society for Computational Economics, vol. 29(2), pages 159-172, March.
  13. Jean-Yves Duclos & Paul Makdissi, 2000. "Restricted and Unrestricted Dominance Welfare, Inequality and Povery Orderings," Cahiers de recherche 00-01, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.

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