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Pareto-Zipf Law Stability in Economics by Youssef Radi is a document available to read on EtoBox.
This document summarizes a paper on the stability of Pareto-Zipf power laws in non-stationary economies using a generalized Lotka-Volterra (GLV) model. The GLV model extends the classic logistic equation to stochastic systems of competing components, leading naturally to Pareto-Zipf type power laws for quantities like individual wealth distribution and market returns. These power laws and their exponent α are invariant to changes in total wealth or other exogenous factors. The measured value of α ~ 1.5 is r
- Author
- Youssef Radi
- Language
- EN