Labour Productivity Superstatistics
General Finance
2015-05-13 v1 Physics and Society
Statistical Finance
Abstract
We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey power-distributions, in sharp contrast to the equilibrium theories of mainstream economics. The Pareto index is found to decrease with the level of aggregation, {\it i.e.}, from workers to firms and to industrial sectors. In order to explain these phenomenological laws, we propose a superstatistics framework, where the role of the fluctuating temperature is played by the fluctuating demand.
Keywords
Cite
@article{arxiv.0809.3541,
title = {Labour Productivity Superstatistics},
author = {Hideaki Aoyama and Hiroshi Yoshikawa and Hiroshi Iyetomi and Yoshi Fujiwara},
journal= {arXiv preprint arXiv:0809.3541},
year = {2015}
}
Comments
13 pages including figures