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Wealth distribution and the Lorenz curve: a finitary approach

Academic Article
Publication Date:
2015
abstract:
We use three stochastic games for the wealth of economic agents which may be at work in a real economy and we derive their statistical equilibrium distributions. Based on a heuristic argument, we assume that the expected observed wealth distribution is a mixture of these three distributions. We compare the Lorenz curves obtained from this conjecture with the empirical curves for a set of countries.
Iris type:
01.01 Articolo in rivista
Keywords:
Lorenz curve; Markov chains; Probabilistic methods; Wealth distribution
List of contributors:
Garibaldi, UBALDO EMILIO LUIGI
Handle:
https://iris.cnr.it/handle/20.500.14243/366072
Published in:
JOURNAL OF ECONOMIC INTERACTION AND COORDINATION (INTERNET)
Journal
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URL

https://link.springer.com/article/10.1007/s11403-014-0136-2
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