Abstract
We use three stochastic games for the wealth of economic agents which may be at work in a real economy and we derive their statistical equilibrium distributions. Based on a heuristic argument, we assume that the expected observed wealth distribution is a mixture of these three distributions. We compare the Lorenz curves obtained from this conjecture with the empirical curves for a set of countries.
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This work was supported by the Italian Grant PRIN 2009, 2009H8WPX5_002, finitary and non-finitary probabilistic methods in economics.
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Scalas, E., Radivojević, T. & Garibaldi, U. Wealth distribution and the Lorenz curve: a finitary approach. J Econ Interact Coord 10, 79–89 (2015). https://doi.org/10.1007/s11403-014-0136-2
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DOI: https://doi.org/10.1007/s11403-014-0136-2