Related papers: Investigating inequality: a Langevin approach

Empirical analyses on income and wealth inequality and those in other fields in economics and finance often face the difficulty that the data is heterogeneous, heavy-tailed or correlated in some unknown fashion. The paper focuses on…

The inverse Langevin function is a fundamental part of the statistical chain models used to describe the behavior of polymeric-like materials, appearing also in other fields such as magnetism, molecular dynamics and even biomechanics. In…

This paper proposes a general framework for inference on three types of almost dominances: almost Lorenz dominance, almost inverse stochastic dominance, and almost stochastic dominance. We first generalize almost Lorenz dominance to almost…

We develop a unified nonparametric framework for sharp partial identification and inference on inequality indices when the data contain coarsened observations of the variable of interest. We characterize the extremal allocations for all…

We study the distributional features and inequality of consumption expenditure across India, for different states, castes, religion and urban-rural divide. We find that even though the aggregate measures of inequality are fairly diversified…

Decades of economic decline have led to areas of increased deprivation in a number of U.S. inner cities, which can be linked to adverse health and other outcomes. Yet the calculation of a single "deprivation" index, which has received wide…

Strong empirical evidence from laboratory experiments, and more recently from population surveys, shows that individuals, when evaluating their situations, pay attention to whether they experience gains or losses, with losses weighing more…

Stochastic dominance has not been too employed in practice due to its important limitations. To increase its versatility, the concept has recently been adapted by introducing various indices that measure the degree to which one probability…

For nonnegative random variables with finite means we introduce an analogous of the equilibrium residual-lifetime distribution based on the quantile function. This allows to construct new distributions with support (0,1), and to obtain a…

Income and wealth distribution affect stability of a society to a large extent and high inequality affects it negatively. Moreover, in the case of developed countries, recently has been proven that inequality is closely related to all…

The Lorenz curve is a fundamental tool for analysing income and wealth distribution and inequality at national and regional levels. We utilise a one-way functional analysis of variance to decompose a time series of Lorenz curves and develop…

Langevin diffusion is a commonly used tool for sampling from a given distribution. In this work, we establish that when the target density $p^*$ is such that $\log p^*$ is $L$ smooth and $m$ strongly convex, discrete Langevin diffusion…

We introduce a constructive framework to learn effective Langevin equations from stationary time series. Unlike conventional approaches that require iterative calibration to match target statistics, our construction guarantees the observed…

Two kinds of novel generalizations of Nesbitt's inequality are explored in various cases regarding dimensions and parameters in this article. Some other cases are also discussed elaborately by using the semiconcave-semiconvex theorem. The…

Due to its wide reaching implications for everything from identifying hotspots of income inequality to political redistricting, there is a rich body of literature across the sciences quantifying spatial patterns in socioeconomic data. In…

The recent book by T. Piketty (Capital in the Twenty-First Century) promoted the important issue of wealth inequality. In the last twenty years, physicists and mathematicians developed models to derive the wealth distribution using discrete…

Income inequality and redistribution policies are modeled with a minimal, endogenous model of a simple foraging economy. Significant income inequalities emerge from the model for populations of equally capable individuals presented with…

We show the relation between processes which are modeled by a Langevin equation with multiplicative noise and infinite ergodic theory. We concentrate on a spatially dependent diffusion coefficient that behaves as ${D(x)}\sim…

We formulate a flexible micro-to-macro kinetic model which is able to explain the emergence of income profiles out of a whole of individual economic interactions. The model is expressed by a system of several nonlinear differential…

This paper proposes a statistical mechanics approach to the analysis of income distribution and inequality. A new distribution function, having its roots in the framework of k-generalized statistics, is derived that is particularly suitable…