Ranking distributions of monotone attributes

Carmen Herrero () and Antonio Villar
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Carmen Herrero: Universidad de Alicante e IVIE

No 14.03, Working Papers from Universidad Pablo de Olavide, Department of Economics

Abstract: This paper refers to the ranking of densities that describe the distribution of an attribute in a given set of populations. The key elements of the problem are: (i) The distributions refer to ordered categorical data (e.g. health statuses, educational achievements, prestige positions, satisfaction levels); (ii) The evaluation of each distribution is relative to the others with which it is compared. We propose an evaluation method that is cardinal, complete and transitive, which based on the consistent application of the "willingness to pay" principle and the likelihood of getting better results when making a random extraction. A characterization of this method, in terms of simple properties, is provided.

Keywords: Ranking distributions; categorical variables; willingness to pay; worth (search for similar items in EconPapers)
JEL-codes: D00 D70 H00 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2014-05
New Economics Papers: this item is included in nep-dcm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Ranking distributions of monotone attributes (2014)
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