The k-generalized distribution: A new descriptive model for the size distribution of incomes
General Finance
2009-01-31 v4 Physics and Society
Abstract
This paper proposes the k-generalized distribution as a model for describing the distribution and dispersion of income within a population. Formulas for the shape, moments and standard tools for inequality measurement - such as the Lorenz curve and the Gini coefficient - are given. A method for parameter estimation is also discussed. The model is shown to fit extremely well the data on personal income distribution in Australia and the United States.
Keywords
Cite
@article{arxiv.0710.3645,
title = {The k-generalized distribution: A new descriptive model for the size distribution of incomes},
author = {F. Clementi and T. Di Matteo and M. Gallegati and G. Kaniadakis},
journal= {arXiv preprint arXiv:0710.3645},
year = {2009}
}
Comments
12 pages with 8 figures; LaTeX; introduction revised, added reference for section 1; accepted for publication in Physica A: Statistical Mechanics and its Applications