Econophysics of Income and Wealth Distributions

Econophysics of Income and Wealth Distributions
Title Econophysics of Income and Wealth Distributions PDF eBook
Author Bikas K. Chakrabarti
Publisher Cambridge University Press
Pages 225
Release 2013-03-07
Genre Business & Economics
ISBN 1107013445

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The first monograph in econophysics focussed on the analyses and modelling of these distributions, ideal for physicists and economists.

Econophysics of Wealth Distributions

Econophysics of Wealth Distributions
Title Econophysics of Wealth Distributions PDF eBook
Author Arnab Chatterjee
Publisher Springer Science & Business Media
Pages 251
Release 2007-06-25
Genre Business & Economics
ISBN 884700389X

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We all know the hard fact: neither wealth nor income is ever uniform for us all. Justified or not, they are unevenly distributed; few are rich and many are poor! Investigations for more than hundred years and the recent availability of the income distribution data in the internet (made available by the finance ministries of various countries; from the tax return data of the income tax departments) have revealed some remarkable features. Irrespective of many differences in culture, history, language and, to some extent, the economic policies followed in different countries, the income distribution is seen to fol low a particular universal pattern. So does the wealth distribution. Barring an initial rise in population with income (or wealth; for the destitutes), the population decreases either exponentially or in a log-normal way for the ma jority of 'middle income' group, and it eventually decreases following a power law (Pareto law, following Vilfredo Pareto's observation in 1896) for the rich est 5-10 % of the population! This seems to be an universal feature - valid for most of the countries and civilizations; may be in ancient Egypt as well! Econophysicists tried to view this as a natural law for a statistical ma- body-dynamical market system, analogous to gases, liquids or solids: classical or quantum.

Income Distribution Dynamics of Economic Systems

Income Distribution Dynamics of Economic Systems
Title Income Distribution Dynamics of Economic Systems PDF eBook
Author Marcelo Byrro Ribeiro
Publisher Cambridge University Press
Pages 335
Release 2020-03-26
Genre Business & Economics
ISBN 1108850707

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Econophysics has been used to study a range of economic and financial systems. This book uses the econophysical perspective to focus on the income distributive dynamics of economic systems. It focuses on the empirical characterization and dynamics of income distribution and its related quantities from the epistemological and practical perspectives of contemporary physics. Several income distribution functions are presented which fit income data and results obtained by statistical physicists on the income distribution problem. The book discusses two separate research traditions: the statistical physics approach, and the approach based on non-linear trade cycle models of macroeconomic dynamics. Several models of distributive dynamics based on the latter approach are presented, connecting the studies by physicists on distributive dynamics with the recent literature by economists on income inequality. As econophysics is such an interdisciplinary field, this book will be of interest to physicists, economists, statisticians and applied mathematicians.

Econophysics

Econophysics
Title Econophysics PDF eBook
Author Sitabhra Sinha
Publisher John Wiley & Sons
Pages 371
Release 2010-12-06
Genre Science
ISBN 3527408150

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Filling the gap for an up-to-date textbook in this relatively new interdisciplinary research field, this volume provides readers with a thorough and comprehensive introduction. Based on extensive teaching experience, it includes numerous worked examples and highlights in special biographical boxes some of the most outstanding personalities and their contributions to both physics and economics. The whole is rounded off by several appendices containing important background material.

Econophysics and Physical Economics

Econophysics and Physical Economics
Title Econophysics and Physical Economics PDF eBook
Author Peter Richmond
Publisher Oxford University Press, USA
Pages 258
Release 2013-09-05
Genre Business & Economics
ISBN 0199674701

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This book summarises progress in the understanding of financial markets and economics based on the established methodology of statistical physics. It offers a new approach to the fundamentals of economics that offers the potential for increased insight and understanding. It should be of interest to all serious students of the subject.

Econophysics and Sociophysics

Econophysics and Sociophysics
Title Econophysics and Sociophysics PDF eBook
Author Bikas K. Chakrabarti
Publisher John Wiley & Sons
Pages 648
Release 2007-02-27
Genre Science
ISBN 352760958X

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Using tricks to handle coupled nonlinear dynamical many-body systems, several advancements have already been made in understanding the behavior of markets/economic/social systems and their dynamics. The book intends to provide the reader with updated reviews on such major developments in both econophysics and sociophysics, by leading experts in the respective fields. This is the first book providing a panoramic view of these developments in the last decade.

Statistical Size Distributions in Economics and Actuarial Sciences

Statistical Size Distributions in Economics and Actuarial Sciences
Title Statistical Size Distributions in Economics and Actuarial Sciences PDF eBook
Author Christian Kleiber
Publisher John Wiley & Sons
Pages 354
Release 2003-10-24
Genre Mathematics
ISBN 0471457167

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A comprehensive account of economic size distributions around the world and throughout the years In the course of the past 100 years, economists and applied statisticians have developed a remarkably diverse variety of income distribution models, yet no single resource convincingly accounts for all of these models, analyzing their strengths and weaknesses, similarities and differences. Statistical Size Distributions in Economics and Actuarial Sciences is the first collection to systematically investigate a wide variety of parametric models that deal with income, wealth, and related notions. Christian Kleiber and Samuel Kotz survey, compliment, compare, and unify all of the disparate models of income distribution, highlighting at times a lack of coordination between them that can result in unnecessary duplication. Considering models from eight languages and all continents, the authors discuss the social and economic implications of each as well as distributions of size of loss in actuarial applications. Specific models covered include: Pareto distributions Lognormal distributions Gamma-type size distributions Beta-type size distributions Miscellaneous size distributions Three appendices provide brief biographies of some of the leading players along with the basic properties of each of the distributions. Actuaries, economists, market researchers, social scientists, and physicists interested in econophysics will find Statistical Size Distributions in Economics and Actuarial Sciences to be a truly one-of-a-kind addition to the professional literature.