Statistical Mechanics of Money, Income, and Wealth: A Short Survey

Details Statistical Mechanics of Money, Income, and Wealth: A Short Survey Statistical Mechanics of Money, Income, and Wealth: A Short Survey

2002-11-09

arxiv.org/abs/cond-mat/0211175v1

Modeling of Complex Systems: Seventh Granada Lectures, AIP Conference Proceedings 661, New York, 2003, pp. 180-183

Physics

Condensed Matter

Statistical Mechanics

4 pages, 3 figures with 6 eps files, requires AIP proceedings style (enclosed). Submitted to the proceedings of the 7th Granad

Scientific paper

10.1063/1.1571309

In this short paper, we overview and extend the results of our papers cond-mat/0001432, cond-mat/0008305, and cond-mat/0103544, where we use an analogy with statistical physics to describe probability distributions of money, income, and wealth in society. By making a detailed quantitative comparison with the available statistical data, we show that these distributions are described by simple exponential and power-law functions.

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