New evidence for the power-law distribution of wealth

Moshe Levy; Sorin Solomon

doi:10.1016/S0378-4371(97)00217-3

New evidence for the power-law distribution of wealth

Moshe Levy^*
, Sorin Solomon

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

254 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	90-94
Number of pages	5
Journal	Physica A: Statistical Mechanics and its Applications
Volume	242
Issue number	1-2
DOIs	https://doi.org/10.1016/S0378-4371(97)00217-3
State	Published - 1 Aug 1997

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This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

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10.1016/S0378-4371(97)00217-3

Cite this

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abstract = "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 L{\'e}vy distribution of stock market fluctuations.",

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AB - 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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New evidence for the power-law distribution of wealth

Abstract

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