|This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CVER | CEP | SERC | STICERD||Cookies?|
Paper No' PEP 31: | Full paper
Save Reference as: BibTeX File | EndNote Import File
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
Share this page: Google Bookmarks | Facebook | Twitter
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.
Copyright © RLAB & LSE 2003 - 2017 | LSE, Houghton Street, London WC2A 2AE | Contact: RLAB | Site updated 23 August 2017