Konvolut The Personal Distribution of Income 1

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Konvolut The Personal Distribution of Income 1

Author:: Steindl, Josef

Scope:: Konvolut aus handschriftlichen und maschinenschriftlichen Blättern (insgesamt 71)

Year of publication:: ohne Datum

Language:: German; English

Note:: Titel fingiert. - 2 Kopien einer unveröffentlichten Version des Artikels "The Personal Distribution of Income" von August/September 1972 mit handschrifltichen Anmerkungen und Anstreichungen, zusätzlich einzelne Blätter mit teils handgeschriebenen und -gezeichneten Formeln, Tabellen und Diagrammen.

Topic:: Stochastic processes and size distribution

JEL Classification:: D31 [Personal Income, Wealth, and Their Distributions]

Shelfmark:: S/M.23.1

Use and reproduction license:: In Copyright

Access:: Free access

DOI:: https://doi.org/10.48671/nls.js.AC14446015

To find the tail of the steady state distribution P(y^) we sum (£) from X, to oo and obtain p . Thus (3) 1x1 P <7 K ) = _cC Evidently the crucial feature of the model is the geometric distribution of the recurrence time. This relates hers to the life-time of the persons as income receivers; since promotion is automatic, the age of the system is measured in income classes K. The age, or spent life-time, is geometrically (approximately exponentially) distributed. Since the income is also an exponential function of K , the Pareto law results from an elimination of time K from 1) the two exponential functions. 7 This is exactly the same rattern of explanation as was used * - i/;it, 2 3 _ in other fields by Simon £ 1#/ and myself and which is'directly. descended from Tule CJ i wil ° used it 2. to explain the frequency of species in genera. According to 'Although Champernowne's x model is more complicated than t above^the essential features remain the same (oniy^u in the solution is replaced by t, the solution of a differs: 'equation).

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