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Wealth distribution and the Lorenz curve: a finitary approach
journal contribution
posted on 2023-06-08, 18:20 authored by Enrico ScalasEnrico Scalas, Tijana Radivojevic, Ubaldo GaribaldiWe 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
History
Publication status
- Published
Journal
Journal of Economic Interaction and CoordinationISSN
1860-711XPublisher
SpringerExternal DOI
Issue
1Volume
10Page range
79-89Department affiliated with
- Mathematics Publications
Full text available
- No
Peer reviewed?
- Yes