Related papers: The Cobb-Douglas Production Function and the Old B…
The objective of the paper is to understand the role of workers bargaining for the labor share in transition economies. We rely on a share-capital schedule, whereby workers bargaining power is represented as a move off the schedule.…
The distribution of gross earnings of movies released each year show a distribution having a power-law tail with Pareto exponent $\alpha \simeq 2$. While this offers interesting parallels with income distributions of individuals, it is also…
This paper investigates the historical origin and ancestors of typicality, which is now a central concept in Boltzmannian Statistical Mechanics and Bohmian Mechanics. Although Ludwig Boltzmann did not use the word typicality, its main idea,…
By borrowing methods from complex system analysis, in this paper we analyze the features of the complex relationship that links the development and the industrialization of a country to economic inequality. In order to do this, we identify…
This paper introduces nonparametric econometric methods that characterize general power law distributions under basic stability conditions. These methods extend the literature on power laws in the social sciences in several directions.…
Participatory budgeting (PB) is a voting paradigm for distributing a divisible resource, usually called a budget, among a set of projects by aggregating the preferences of individuals over these projects. It is implemented quite extensively…
We present a stochastic agent-based model for the distribution of personal incomes in a developing economy. We start with the assumption that incomes are determined both by individual labour and by stochastic effects of trading and…
We discuss the distribution of commuting distances and its relation to income. Using data from Denmark, the UK, and the US, we show that the commuting distance is (i) broadly distributed with a slow decaying tail that can be fitted by a…
It is well-known that value added per worker is extremely heterogeneous among firms, but relatively little has been done to characterize this heterogeneity more precisely. Here we show that the distribution of value-added per worker…
It is hard to exaggerate the role of economic aggregators -- functions that summarize numerous and / or heterogeneous data -- in economic models since the early XX$^{th}$ century. In many cases, as witnessed by the pioneering works of Cobb…
In this paper we study functions with low influences on product probability spaces. The analysis of boolean functions with low influences has become a central problem in discrete Fourier analysis. It is motivated by fundamental questions…
Bohmian mechanics, also known as pilot-wave theory or de Broglie-Bohm theory, is a formulation of quantum mechanics whose fundamental axioms are not about what observers will see if they perform an experiment but about what happens in…
Fair division is a significant, long-standing problem and is closely related to social and economic justice. The conventional division methods such as cut-and-choose are hardly applicable to realworld problems because of their complexity…
We consider the Poisson hail model introduced by Baccelli and Foss. We give a power law condition for the tails (spatial and temporal) of the distribution of jobs to ensure stability as the rate parameter $\lambda $ tends to zero. We then…
We provide an exact solution to the ideal-gas-like models studied in econophysics to understand the microscopic origin of Pareto-law. In these class of models the key ingredient necessary for having a self-organized scale-free steady-state…
The Nobel Memorial Prize in Economics has been awarded annually since 1969. Who wins the prize is a topic of much interest and tracks the whole course of the academic discipline over the last 57 years. Explaining who wins the prize in any…
This paper presents proof that Google Scholar (GS) can construct documentary sets relevant for evaluating researchers' works. Nobelists in economics were the researchers under analysis, and two types of tests of the GS cites to their works…
This paper presents the identification of heterogeneous elasticities in the Cobb-Douglas production function. The identification is constructive with closed-form formulas for the elasticity with respect to each input for each firm. We…
Mounting evidences are being gathered suggesting that income and wealth distribution in various countries or societies follow a robust pattern, close to the Gibbs distribution of energy in an ideal gas in equilibrium, but also deviating…
We propose a stochastic model of evolution of wealth in a society of economic agents. In the model, an agent can be in two states: inactive and active. Transitions between the states occur at random time intervals. In the active state, the…