Kinetic exchange models for income and wealth distributions
By Arnab Chatterjee, Bikas K. Chakrabarti. 2007
214 citations recorded by the source corpus.
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.
Subfields: Condensed Matter Physics, Economics and Econometrics, Statistical and Nonlinear Physics
View Paper: https://www.semanticscholar.org/paper/6565c65be1920a6d7b16412d7ba252f2bd927d46
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In Condensed Matter Physics
In Economics and Econometrics
In Statistical and Nonlinear Physics
Citations in the corpus
- Econophysics: Empirical facts and agent-based models (2009, unknown): “To this aim, several studies have been made to investigate the characteristics of the real income distribution and provide theoretical models or explanations (see e.g. reviews by Lux (2005), Chatterjee and Chakrabarti (2007), Yakovenko and Rosser (2009)).”
- Econophysics review: II. Agent-based models (2011, unknown): “( 2004 ), Coolen ( 2005 ), Chatterjee and Chakrabarti ( 2007 ), Samanidou et al.”
- Colloquium: Statistical mechanics of money, wealth, and income (2009, methodology): “The discussed models were reviewed by Chatterjee and Chakrabarti (2007); Richmond, Hutzler, Coelho, and Repetowicz (2006); Richmond, Repetowicz, Hutzler, and Coelho (2006); Yakovenko (2009) and in the popular article by Hayes (2002).”