2002/04/10 by Jürgen Mimkes, J. Mimkes, Mimkes, J. +5 · 1 citation
Economics, Econometrics and Finance · Environmental Science · Physics and Astronomy · #Complex Systems and Time Series Analysis #FOS: Economics and business #FOS: Physical sciences #General Finance (q-fin.GN) #Statistical Mechanics (cond-mat.stat-mech) #Statistical Mechanics and Entropy #Sustainable Development and Environmental Policy #cond-mat.stat-mech #q-fin.GN
paper · pdf · doi:10.48550/arxiv.cond-mat/0204234
arxiv created 2002/04/10 · openalex publication_date 2002/04/10 · arxiv updated 2009/11/30 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Statistical models of economic distributions lead to Boltzmann distributions rather than a Pareto power law. This result is supported by two facts: 1. the distributions of income, car sales, marriages or jobs are a matter of chances and luck and not of reason! 2. Data for property, automobile sales, marriages and job markets were analyzed by two models: the Pareto law and the Boltzmann distribution of stochastic systems. In all cases the best fits to data were obtained by the Boltzmann function. This may indicate that the principles of stochastic systems like in physics, chemistry, thermodynamics may also be applied to economic systems.