A nonparametric test of stochastic dominance in multivariate distributions
AbstractThe literature on statistical test of stochastic dominance has thus far been concerned with univariate distributions. This paper presents nonparametric statistical tests for multivariate distributions. This allows a nonparametric treatment of multiple welfare indicators. These test are applied to a time series of cross-section datasets on household level total expenditure and non labour market time in the UK. This contrasts the welfare inferences which might be drawn from looking at univariate (marginal) distributions with those which consider the joint distribution.
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Bibliographic InfoPaper provided by School of Economics, University of Surrey in its series School of Economics Discussion Papers with number 1205.
Length: 39 pages
Date of creation: Jun 2005
Date of revision:
Social welfare; stochastic dominance; nonparametric statistical methods;
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- D30 - Microeconomics - - Distribution - - - General
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