Power Comparisons in Contingency Tables

It is an important inferential problem to test no association between two binary variables based on data. Tests based on the sample odds ratio are commonly used. We bring in a competing test based on the Pearson correlation coefficient. In particular, the odds ratio does not extend to higher order contingency tables, whereas Pearson correlation does. It is important to understand how Pearson correlation stacks against the odds ratio in 2 x 2...