Analysis of a model that leads to the Pareto law of wealth distribution (Q1085771)
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scientific article; zbMATH DE number 3982869
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| English | Analysis of a model that leads to the Pareto law of wealth distribution |
scientific article; zbMATH DE number 3982869 |
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Analysis of a model that leads to the Pareto law of wealth distribution (English)
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1985
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The treatment by \textit{H. Wold} and \textit{P. Whittle} [Econometrica 25, 591-595 (1957; Zbl 0077.338)] is generalized allowing a wider class of methods of partitioning estates/fortunes. The resulting equation is a partial differential integro equation and questions regarding existence and uniqueness of solutions are discussed. Bounds on the solutions are also provided; these bounds suggest that a wide variety of estate partitioning hypotheses conform to the Pareto law. Finally differentiability of the partitioning function is replaced by piecewise differentiability and proofs are reexamined with the conclusion that earlier results may be readily extended.
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partial differential integro equation
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existence and uniqueness of solutions
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estate partitioning hypotheses
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Pareto law
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0.7876452803611755
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0.7833564877510071
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0.7662277221679688
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0.7640727758407593
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0.7612943649291992
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