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Paper No' PEP 31: | Full paper
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Keywords: Ordinal data; Inequality and Risk Orderings; Welfare orderings; Association
JEL Classification: D30; D63; D81; I31
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: Public Economics Programme Discussion Papers
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Abstract:Decision makers and social planners are often faced with a problem of evaluating distributions of ordinal variables i.e. variables for which there are no numbers but only the ordering, such as, for example, self-reported health status, life satisfaction, working environment, quality of public goods, living conditions etc. Standard tools, namely, stochastic dominance, and inequality and risk measures, produce conclusions that can be reversed depending on the cardinalisation of an ordinal indicator which is arbitrary. Utilising the notion of integration on partially ordered sets we extend the well-known Hardy et al. (1934) result to an ordinal setting, both univariate and multivariate.
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