This paper generalizes the locally optimal linear rank test based on copula from Shirahata (1974) resp. Guillén and Isabel (1998) and Genest et al. (2006) to p dimensions and introduces a new X2-type test for global independence (Nelsen test). The test is compared to similar nonparametric tests...

We consider a Bayesian decision problem in which an agent must draw inferences about multiple unobserved variables. This problem appears in different economic settings, for instance in the theory of agency. Assume that both observed and unobserved variables are ordered. We say that the inference...

The application of Structural Equation Modeling (SEM) in the business research is growing. The second-generation multivariate data analysis technique, SEM is easy to use and provides a high quality statistical analysis. Many visual SEM software programs help in a quick design of the theoretical...