Abstract
In recent years we have found that logistic systems of the Generalized Lotka-Volterra type (GLV) describing statistical systems of auto-catalytic elements posses power law distributions of the Pareto-Zipf type. In particular, when applied to economic systems, GLV leads to power laws in the relative individual wealth distribution and in market returns. These power laws and their exponent α are invariant to arbitrary variations in the total wealth of the system and to other endogenously and exogenously induced variations.
| Original language | English |
|---|---|
| Pages (from-to) | 257-261 |
| Number of pages | 5 |
| Journal | European Physical Journal B |
| Volume | 27 |
| Issue number | 2 |
| DOIs | |
| State | Published - 2 May 2002 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 1 No Poverty -
SDG 10 Reduced Inequalities
Keywords
- 87.23.-n Ecology and evolution
- 89.65.Gh Economics, business, and financial markets
- 89.75.Da Systems obeying scaling laws
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