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Dynamical change of Pareto index in Japanese land prices

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  • Atushi Ishikawa

Abstract

We investigate the dynamical behavior in the large scale region of non-equilibrium systems, by employing data on the assessed value of land in 1983 -- 2006 Japan. In the system we find the detailed quasi-balance, which has the symmetry: x_1 -> a {x_2}^{\theta} (x_1 and x_2 are two successive land prices). By using the detailed quasi-balance and Gibrat's law, we derive Pareto's law with varying Pareto index annually. The parameter \theta corresponds with the ratio of Pareto indices (\mu_1 + 1)/(\mu_2 + 1), and the relation is confirmed in the empirical data nicely.

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  • Atushi Ishikawa, 2006. "Dynamical change of Pareto index in Japanese land prices," Papers physics/0607131, arXiv.org.
    • Handle: RePEc:arx:papers:physics/0607131
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