Konvolut The Personal Distribution of Income 2

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Konvolut The Personal Distribution of Income 2

Author:: Steindl, Josef

Scope:: 51 Blätter. Konvolut aus handschriftlichen und maschinengeschriebenen Blättern

Year of publication:: 1972

Source material date:: August-September 1972

Language:: German; English

Note:: Titel fingiert. Das Konvolut umfasst ein 20 seitiges Typoskript des Artikels "The Personal Distribution of Income" von August/September 1972 mit zahlreichen handschrifltichen Anmerkungen und Anstreichungen; einen Anhang mit Tabellen zur Einkommensverteilung in Schweden, sowie weitere Blätter mit handschriftlichen Texten, Formeln, Tabellen und Diagrammen.

Topic:: Stochastic processes and size distribution

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

Shelfmark:: S/M.10.1

Use and reproduction license:: In Copyright

Access:: Free access

DOI:: https://doi.org/10.48671/nls.js.AC14446046

Josef Steindl August-September 1972 The Personal Distribution of Income When D.G. Champernowne showed how you can explain the Pareto law by a stochastic approach he very naturally chose as an example the distribution of income, because that is the classical case. It appears now that the approach is more easily applied to firms, towns or wealth. The case of income is the hardest, so that the great pioneering paper cy while fully demonstrating a powerful new method, has not entirely disposed of the individual tff m w. problem,which it was designed to solve. Champernowne's Model I shall give a simplified version of Champernowne's model 4 which will throw a new light on its relation to other models of the Pareto law. The income of a person is the state of the system, and its evolution is described by a Markov chain. The stochastic matrix of income transitions from one year to the next, in desperate simplification, looks as follows: income in year t + 1 0 1 2 3 4 3 6 • • 0 q p 1 q P 2 q p 3 q P 4 q p 5 q p • • • • fH CO <o n •H CD a O o a H

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