Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/314423 
Year of Publication: 
2025
Series/Report no.: 
BERG Working Paper Series No. 203
Publisher: 
Bamberg University, Bamberg Economic Research Group (BERG), Bamberg
Abstract: 
Power laws are pervasive in economics and social sciences, particularly in the upper tails of distributions such as wealth, income, firm size, and city populations. Their scale-free property makes them a universal framework to understand phenomena spanning several orders of magnitude. This chapter explores their mathematical and often counterintuitive statistical properties, empirical evidence, and the stochastic processes that generate them. Emphasis is placed on their universal applicability, particularly to firm size, wealth, and income distributions and their potential to address the pressing issues of our time.
Subjects: 
Distribution
Growth Processes
Extreme Values
Concentration
Inequality
ISBN: 
978-3-949224-24-9
Document Type: 
Working Paper

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