In a recent paper in this journal (Clementi et al 2009 J. Stat. Mech. P02037), we proposed a new, physically motivated, distribution function for modeling individual incomes, having its roots in the framework of the k-generalized statistical mechanics. The performance of the k-generalized distribution was checked against real data on personal income for the United States in 2003. In this paper we extend our previous model so as to be able to account for the distribution of wealth. Probabilistic functions and inequality measures of this generalized model for wealth distribution are obtained in closed form. In order to check the validity of the proposed model, we analyze the US household wealth distributions from 1984 to 2009 and conclude an excellent agreement with the data that is superior to any other model already known in the literature.
A generalized statistical model for the size distribution of wealth
CLEMENTI, FABIO;
2012-01-01
Abstract
In a recent paper in this journal (Clementi et al 2009 J. Stat. Mech. P02037), we proposed a new, physically motivated, distribution function for modeling individual incomes, having its roots in the framework of the k-generalized statistical mechanics. The performance of the k-generalized distribution was checked against real data on personal income for the United States in 2003. In this paper we extend our previous model so as to be able to account for the distribution of wealth. Probabilistic functions and inequality measures of this generalized model for wealth distribution are obtained in closed form. In order to check the validity of the proposed model, we analyze the US household wealth distributions from 1984 to 2009 and conclude an excellent agreement with the data that is superior to any other model already known in the literature.File | Dimensione | Formato | |
---|---|---|---|
fulltext.pdf
accesso aperto
Tipologia:
Documento in post-print (versione successiva alla peer review e accettata per la pubblicazione)
Licenza:
DRM non definito
Dimensione
1.55 MB
Formato
Adobe PDF
|
1.55 MB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.