A nonparametric test of stochastic dominance in multivariate distributions
No 1205, School of Economics Discussion Papers from School of Economics, University of Surrey
The 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.
Keywords: Social welfare; stochastic dominance; nonparametric statistical methods (search for similar items in EconPapers)
JEL-codes: C14 D30 (search for similar items in EconPapers)
Pages: 39 pages
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Persistent link: https://EconPapers.repec.org/RePEc:sur:surrec:1205
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