The monograph investigates the misapplication of conventional statistical techniques to fat
tailed distributions and looks for remedies, when possible. Switching from thin tailed to fat …

To simultaneously overcome the limitation of the Gini index in that it is less sensitive to
inequality at the tails of income distribution and the limitation of the inter-decile ratios that …

The last 25 years have seen the development of a significant literature within the subfield of
econophysics which attempts to model economic inequality as the emergent property of …

Demand outstrips available resources in most situations, which gives rise to competition,
interaction and learning. In this article, we review a broad spectrum of multi-agent models of …

This book discusses the study and analysis of the physical aspects of social systems and
models, inspired by the analogy with familiar models of physical systems and possible …

How do near-bankruptcy events in the past affect the dynamics of stock-market prices in the
future? Specifically, what are the long-time properties of a time-local exponential growth of …

Given many popular functional forms for the Lorenz curve do not have a closed-form
expression for the Gini index and no study has utilized the observed Gini index to estimate …

Economic competition between humans leads to income inequality, but, so far, there has
been little understanding of underlying quantitative mechanisms governing such a collective …

We use data on the wealth of the richest persons taken from the 'rich lists' provided by
business magazines like Forbes to verify if the upper tails of wealth distributions follow, as …

While entropy was introduced in the second half of the 19th century in the international
vocabulary as a scientific term, in the 20th century it became common in colloquial use …