Wealth distribution and the Lorenz curve: a finitary approach
journal contribution
posted on 2023-06-08, 18:20authored byEnrico Scalas, Tijana Radivojevic, Ubaldo Garibaldi
We use three stochastic games for the wealth of economic agents which may be at work in a real economy and we derive their statistical equilibrium distributions. Based on a heuristic argument, we assume that the expected observed wealth distribution is a mixture of these three distributions. We compare the Lorenz curves obtained from this conjecture with the empirical curves for a set of countries.
Funding
PRIN 2009; 2009H8WPX5_002; Ministero dell'Istruzione, dell'Universita' e della Ricerca