Double power laws in income and wealth distributions

Ricardo Coelho; Peter Richmond; Joseph Barry; Stefan Hutzler

doi:10.1016/j.physa.2008.01.047

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arXiv · 0710.0917

Double power laws in income and wealth distributions

Ricardo Coelho·Peter Richmond·Joseph Barry·Stefan Hutzler

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Abstract

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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Ricardo Coelho, Peter Richmond, Joseph Barry, Stefan Hutzler. 2007-10-04. Double power laws in income and wealth distributions. https://doi.org/10.1016/j.physa.2008.01.047

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