Report
Size-Dependency of Income Distributions and Its Implications
| العنوان: | Size-Dependency of Income Distributions and Its Implications |
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| المؤلفون: | Zhang, Jiang, Wang, You-Gui |
| المصدر: | Chinese Physics Letters, 2011,28(2):038901 |
| سنة النشر: | 2010 |
| المجموعة: | Physics (Other) Quantitative Finance |
| مصطلحات موضوعية: | Quantitative Finance - General Finance, Physics - Physics and Society, 89.65.Gh, 89.75.Da, 89.75.Kd |
| الوصف: | This paper highlights the size-dependency of income distributions, i.e. the income distribution curves versus the population of a country systematically. By using the generalized Lotka-Volterra model to fit the empirical income data in the United States during 1996-2007, we found an important parameter $\lambda$ can scale with a $\beta$ power of the size (population) of U.S. in that year. We pointed out that the size-dependency of the income distributions, which is a very important property but seldom addressed by previous studies, has two non-trivial implications: (1) the allometric growth pattern, i.e. the power law relationship between population and GDP in different years, which can be mathematically derived from the size-dependent income distributions and also supported by the empirical data; (2) the connection with the anomalous scaling for the probability density function in critical phenomena since the re-scaled form of the income distributions has the exactly same mathematical expression for the limit distribution of the sum of many correlated random variables asymptotically. Comment: 4 figures, 4 pages |
| نوع الوثيقة: | Working Paper |
| DOI: | 10.1088/0256-307X/28/3/038901 |
| URL الوصول: | http://arxiv.org/abs/1012.2279 |
| رقم الانضمام: | edsarx.1012.2279 |
| قاعدة البيانات: | arXiv |
| DOI: | 10.1088/0256-307X/28/3/038901 |
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