Why only few are so successful?

P.K. Mohanty

Physica A: Statistical Mechanics and its Applications, 2007, vol. 384, issue 1, 75-79

Abstract: In many professions employees are rewarded according to their relative performance. Corresponding economy can be modeled by taking N independent agents who gain from the market with a rate which depends on their current gain. We argue that this simple realistic rate generates a scale-free distribution even though intrinsic ability of agents are marginally different from each other. As an evidence we provide distribution of scores for two different systems (a) the global stock game where players invest in real stock market and (b) the international cricket.

Keywords: Wealth distribution; Pareto-law; Celebrity market (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:384:y:2007:i:1:p:75-79

DOI: 10.1016/j.physa.2007.04.118

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