An alternative method for modeling the size distribution of top wealth

被引：3
|
作者：
Wang, Yuanjun [1 ]
You, Shibing [2 ]
机构：
[1] Wuhan Univ Technol, Dept Econ, Wuhan 430000, Peoples R China
[2] Wuhan Univ, Dept Econ, Wuhan 430072, Peoples R China
来源：
PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS | 2016年 / 457卷
关键词：
Lorenz curve; Wealth distribution; Power-law; Top wealth; POWER-LAW TAIL; FUNCTIONAL FORMS; PARETO; ZIPF; FIRMS; INDIA;
D O I：
10.1016/j.physa.2016.03.025
中图分类号：
O4 [物理学];
学科分类号：
0702 ;
摘要：
The Pareto distribution has been widely applied in modeling the distribution of wealth, as well as top incomes, cities and firms. However, recent evidence has shown that the Pareto distribution is not consistent with many situations in which it was previously considered applicable. We propose an alternative method for estimating the upper tail distribution of wealth and suggest a new Lorenz curve for building models to provide such estimates. Applying our new models to the Forbes World's Billionaire Lists, we show that they significantly outperform the Pareto Lorenz curve as well as some other popular alternatives. (C) 2016 Elsevier B.V. All rights reserved.
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页码：443 / 453
页数：11
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