The Forbes 400 and the Pareto wealth distribution

Oren S. Klass, Ofer Biham, Moshe Levy*, Ofer Malcai, Sorin Solomon

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

103 Scopus citations

Abstract

Statistical regularities at the top end of the wealth distribution are examined using the Forbes 400 lists during 1988-2003. We find that the wealth is distributed according to a Pareto (power-law) distribution with an average exponent of α = 1.49.

Original languageAmerican English
Pages (from-to)290-295
Number of pages6
JournalEconomics Letters
Volume90
Issue number2
DOIs
StatePublished - Feb 2006

Bibliographical note

Funding Information:
We thank the anonymous referee for helpful comments and suggestions. The processing of the Forbes 400 data benefited from the dedicated help by Chani Charush. This work was supported by a grant from the Israel Science Foundation and by the Zagagi Fund.

Keywords

  • Market efficiency
  • Pareto
  • Wealth distribution

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