The Forbes 400, the Pareto power-law and efficient markets

O. S. Klass; O. Biham; M. Levy; O. Malcai; S. Solomon

doi:10.1140/epjb/e2006-00396-1

The Forbes 400, the Pareto power-law and efficient markets

O. S. Klass^*
, O. Biham
, M. Levy
, O. Malcai
, S. Solomon

^*Corresponding author for this work

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

42 Scopus citations

Abstract

Statistical regularities at the top end of the wealth distribution in the United States are examined using the Forbes 400 lists of richest Americans, published between 1988 and 2003. It is found that the wealths are distributed according to a power-law (Pareto) distribution. This result is explained using a simple stochastic model of multiple investors that incorporates the efficient market hypothesis as well as the multiplicative nature of financial market fluctuations.

Original language	English
Pages (from-to)	143-147
Number of pages	5
Journal	European Physical Journal B
Volume	55
Issue number	2
DOIs	https://doi.org/10.1140/epjb/e2006-00396-1
State	Published - Jan 2007

UN SDGs

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

SDG 1 No Poverty
SDG 10 Reduced Inequalities

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10.1140/epjb/e2006-00396-1

Cite this

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The Forbes 400, the Pareto power-law and efficient markets

Abstract

UN SDGs

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