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Exponential and power-law probability distributions of wealth and income in the United Kingdom and the United States

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Author Info
Adrian Dragulescu
Victor M. Yakovenko
Abstract

We present the data on wealth and income distributions in the United Kingdom, as well as on the income distributions in the individual states of the USA. In all of these data, we find that the great majority of population is described by an exponential distribution, whereas the high-end tail follows a power law. The distributions are characterized by a dimensional scale analogous to temperature. The values of temperature are determined for the UK and the USA, as well as for the individual states of the USA.

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File URL: http://arxiv.org/abs/cond-mat/0103544
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File URL: http://arxiv.org/pdf/cond-mat/0103544
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Publisher Info
Paper provided by arXiv.org in its series Quantitative Finance Papers with number cond-mat/0103544.

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Date of creation: Mar 2001
Date of revision: Mar 2001
Publication status: Published in Physica A 299, 213 (2001)
Handle: RePEc:arx:papers:cond-mat/0103544

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  1. repec:nos:tttehw:mechonomics8 is not listed on IDEAS
  2. Ivan O. Kitov, 2007. "Modeling the evolution of Gini coefficient for personal incomes in the USA between 1947 and 2005," Working Papers 67, ECINEQ, Society for the Study of Economic Inequality. [Downloadable!]
    Other versions:
  3. Fabio Clementi & Mauro Gallegati, 2005. "Power Law Tails in the Italian Personal Income Distribution," Microeconomics 0505005, EconWPA. [Downloadable!]
    Other versions:
  4. Jess Benhabib & Shenghao Zhu, 2008. "Age, Luck, and Inheritance," NBER Working Papers 14128, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-12-14.

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