Lagrange statistics in systems (markets) with price constraints: Analysis of property, car sales, marriage and job markets by the Boltzmann function and the Pareto distribution

J. Mimkes, Th. Fruend and Geoff Willis
Additional contact information
J. Mimkes: Physics Department, University of Paderborn, Paderborn, Germany
Th. Fruend: Physics Department, University of Paderborn, Paderborn, Germany

Papers from arXiv.org

Abstract: Statistical models of economic distributions lead to Boltzmann distributions rather than a Pareto power law. This result is supported by two facts: 1. the distributions of income, car sales, marriages or jobs are a matter of chances and luck and not of reason! 2. Data for property, automobile sales, marriages and job markets were analyzed by two models: the Pareto law and the Boltzmann distribution of stochastic systems. In all cases the best fits to data were obtained by the Boltzmann function. This may indicate that the principles of stochastic systems like in physics, chemistry, thermodynamics may also be applied to economic systems.

Date: 2002-04
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://arxiv.org/pdf/cond-mat/0204234 Latest version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:cond-mat/0204234

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().