Econometric Analysis of Stochastic Dominance

Concepts, Methods, Tools, and Applications

Author: Yoon-jae Whang Series: Themes In Modern Econometrics

Econometric Analysis of Stochastic Dominance

Provides a comprehensive analysis of stochastic dominance through coverage of concepts, methods of estimation, inferential tools, and applications.

Stochastic dominance is a fundamental concept used heavily in various fields of science such as economics, finance, insurance, medicine, and statistics. This book examines stochastic dominance in a unified framework, focusing on inferential methods and foundations. It will appeal to graduate students, academic researchers, and professionals.

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Summary

Provides a comprehensive analysis of stochastic dominance through coverage of concepts, methods of estimation, inferential tools, and applications.

Description

This book offers an up-to-date, comprehensive coverage of stochastic dominance and its related concepts in a unified framework. A method for ordering probability distributions, stochastic dominance has grown in importance recently as a way to measure comparisons in welfare economics, inequality studies, health economics, insurance wages, and trade patterns. Whang pays particular attention to inferential methods and applications, citing and summarizing various empirical studies in order to relate the econometric methods with real applications and using computer codes to enable the practical implementation of these methods. Intuitive explanations throughout the book ensure that readers understand the basic technical tools of stochastic dominance.

About the Author

Yoon-Jae Whang is Professor of Economics at Seoul National University. He is an elected fellow of the Econometric Society and the Journal of Econometrics and is Co-Director of the Center for Econometrics at Seoul National University.