Kinetic exchange models for income and wealth distributions |
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Authors: | A Chatterjee B K Chakrabarti |
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Institution: | (1) Theoretical Condensed Matter Physics Division and Centre for Applied Mathematics and Computational Science, Saha Institute of Nuclear Physics, 1/AF Bidhannagar, Kolkata, 700064, India;(2) Economic Research Unit, Indian Statistical Institute, 203 B. T. Road, Kolkata, 700108, India |
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Abstract: | Increasingly, a huge amount of statistics have been gathered which clearly indicates that income and wealth
distributions in various countries or societies follow a robust pattern,
close to the Gibbs distribution of energy in an ideal gas in equilibrium. However, it also deviates in the low income and
more
significantly for the high income ranges. Application of physics models provides illuminating ideas and understanding, complementing
the observations. |
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Keywords: | 89 20 Hh World Wide Web Internet 89 75 Hc Networks and genealogical trees 89 75 Da Systems obeying scaling laws 43 38 Si Telephones earphones sound power telephones and intercommunication systems |
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