Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/172322
Authors: 
Gualandi, Stefano
Toscani, Giuseppe
Year of Publication: 
2017
Series/Report no.: 
Economics Discussion Papers 2017-111
Abstract: 
Various phenomena related to socio-economic aspects of our daily life exhibit equilibrium densities characterized by a power law decay. Maybe the most known example of this property is concerned with wealth distribution in a western society. In this case the polynomial decay at infinity is referred to as Pareto tails phenomenon (Pareto, Cours d'économie politique, 1964). In this note, the authors discuss a possible source of this behavior by resorting to the powerful approach of statistical mechanics, which enlightens the analogies with the classical kinetic theory of rarefied gases. Among other examples, the distribution of populations in towns and cities is illustrated and discussed.
Subjects: 
kinetic models
Boltzmann-type equations
multi-agent systems
economic modeling
JEL: 
C02
C6
C68
Creative Commons License: 
http://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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