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Evidence for the Independence of Waged and Unwaged Income, Evidence for Boltzmann Distributions in Waged Income, and the Outlines of a Coherent Theory of Income Distribution

  • G. Willis
  • J. Mimkes

Two sets of high quality income data are analysed in detail, one set from the UK, one from the USA. It is firstly demonstrated that both a log-normal distribution and a Boltzmann distribution can give very accurate fits to both these data sets. The absence of a power tail in the US data set is then discussed. Taken in conjunction with detailed evidence from the UK and Japanese income data, a strong case is made for the mathematically separate treatment of waged and unwaged income. The authors present a case for preferring the use of the Boltzmann distribution over the log-normal function, this leads to a brief review of the work of a number of researchers, which shows that a coherent theory for the distribution of all income can be postulated.

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Paper provided by arXiv.org in its series Papers with number cond-mat/0406694.

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Date of creation: Jun 2004
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Handle: RePEc:arx:papers:cond-mat/0406694
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  1. Bouchaud, Jean-Philippe & Mézard, Marc, 2000. "Wealth condensation in a simple model of economy," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 282(3), pages 536-545.
  2. Wataru Souma, 2000. "Universal Structure of the Personal Income Distribution," Papers cond-mat/0011373, arXiv.org.
  3. Jean-Philippe Bouchaud & Marc Mezard, 2000. "Wealth condensation in a simple model of economy," Science & Finance (CFM) working paper archive 500026, Science & Finance, Capital Fund Management.
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