New evidence for the power-law distribution of wealth

We present a non-conventional approach for studying the distribution of wealth in society. We analyze data from the 1996 Forbes 400 list of the richest people in the US. Our results confirm that wealth is distributed according to a power law. The measured exponent of the power-law is 1.36. As theoretically predicted, this value is in close agreement with the exponent of the Lévy distribution of stock market fluctuations.

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Year of publication:	1997
Authors:	Levy, Moshe ; Solomon, Sorin
Published in:	Physica A: Statistical Mechanics and its Applications. - Elsevier, ISSN 0378-4371. - Vol. 242.1997, 1, p. 90-94
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010873919