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Statistical theories of income and wealth distribution

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  • Chakrabarti, Anindya S.
  • Chakrabarti, Bikas K.
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    Abstract

    The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multi-agent dynamic models along with their microeconomic counterparts, that can produce the statistical features of the distributions observed in reality. A number of exact analytical methods and solutions are also provided. --

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    File URL: http://dx.doi.org/10.5018/economics-ejournal.ja.2010-4
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    Bibliographic Info

    Article provided by Kiel Institute for the World Economy in its journal Economics: The Open-Access, Open-Assessment E-Journal.

    Volume (Year): 4 (2010)
    Issue (Month): 4 ()
    Pages: 1-31

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    Handle: RePEc:zbw:ifweej:20104

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    Related research

    Keywords: Personal Income; Wealth and Their Distributions; Exchange and Production Economies;

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    References

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    Citations

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    Cited by:
    1. Stefano Viaggiu & Andrea Lionetto & Leonardo Bargigli & Michele Longo, 2011. "Statistical ensembles for money and debt," Papers 1109.0891, arXiv.org, revised Jul 2012.
    2. Chakrabarti, Anindya S., 2012. "Effects of the turnover rate on the size distribution of firms: An application of the kinetic exchange models," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(23), pages 6039-6050.
    3. Chakrabarti, Anindya S. & Chakrabarti, Bikas K., 2010. "Inequality reversal: Effects of the savings propensity and correlated returns," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(17), pages 3572-3579.
    4. Chakrabarti, Anindya S., 2011. "An almost linear stochastic map related to the particle system models of social sciences," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(23), pages 4370-4378.

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