Double power laws in income and wealth distributions

Ricardo Coelho, Peter Richmond, Joseph Barry and Stefan Hutzler

Physica A: Statistical Mechanics and its Applications, 2008, vol. 387, issue 15, 3847-3851

Abstract: Close examination of wealth distributions reveal the existence of two distinct power law regimes. The Pareto exponents of the super-rich, identified, for example in rich lists such as provided by Forbes, are smaller than the Pareto exponents obtained for top earners in income data sets. Our extension of the Slanina model of wealth is able to reproduce these double power law features.

Keywords: Econophysics; Wealth distribution; Power laws (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:387:y:2008:i:15:p:3847-3851

DOI: 10.1016/j.physa.2008.01.047

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