Underreporting and undersampling biases in top tail wealth, although widely acknowledged, have not been statistically quantified so far, essentially because they are not readily observable. Here we exploit the functional form of power law‐like regimes in top tail wealth to derive analytical...

With the advent of platform economies and the increasing availability of online price comparisons, many empirical markets now select on relative rather than absolute performance. This feature might give rise to the 'winner takes all/most' phenomenon, where tiny initial productivity differences...

Die öffentliche Wahrnehmung von ökonomischer Ungleichheit ist oft stark verzerrt. Solche Fehlwahrnehmungen haben weitreichende Folgen für verschiedenste ökonomische Fragen und beeinflussen das subjektive Wohlbefinden, Umverteilungspräferenzen sowie Wahl- und Konsumverhalten. Wir schlagen...

Markov chains have experienced a surge of economic interest in the form of behavioral agent-based models that aim at explaining the statistical regularities of financial returns. We review some of the relevant mathematical facts and show how they apply to agent-based herding models, with the...