Double power laws in income and wealth distributions

Details Double power laws in income and wealth distributions Double power laws in income and wealth distributions

2007-10-04

arxiv.org/abs/0710.0917v1

Physica A 387, 3847 (2008)

Physics

Physics and Society

10 pages, 4 figures, conference APFA6, Lisboa, July 2007

Scientific paper

10.1016/j.physa.2008.01.047

Close examination of wealth distributions reveal the existence of two distinct power law regimes. The Pareto exponents of the super-rich, identified for example in rich lists such as provided by Forbes are smaller than the Pareto exponents obtained for top earners in income data sets. Our extension of the Slanina model of wealth is able to reproduce these double power law features.

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