Economy – Quantitative Finance – General Finance
Scientific paper
2008-09-21
Economy
Quantitative Finance
General Finance
13 pages including figures
Scientific paper
We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey power-distributions, in sharp contrast to the equilibrium theories of mainstream economics. The Pareto index is found to decrease with the level of aggregation, {\it i.e.}, from workers to firms and to industrial sectors. In order to explain these phenomenological laws, we propose a superstatistics framework, where the role of the fluctuating temperature is played by the fluctuating demand.
Aoyama Hideaki
Fujiwara Yoshi
Iyetomi Hiroshi
Yoshikawa Hiroshi
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