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Pareto and probability distributions

Author

Listed:
  • Gianfranco Tusset

    (University of Padua)

Abstract

Although familiar with the developments in probability theory of his time, Vilfredo Pareto made little use of this tool in his writings, preferring theoretical constructions based on experimentation and observation. This article attempts to reconstruct Pareto’s overall approach to probability by examining his references to the distribution of income, an economic fact that lends itself to probabilistic investigation. The result of this research shows how Pareto alludes to the application of probability to income and social groups, but leaves the task to his followers. JEL classification B31, B4, C1.

Suggested Citation

  • Gianfranco Tusset, 2024. "Pareto and probability distributions," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 71(3), pages 521-535, September.
    • Handle: RePEc:spr:inrvec:v:71:y:2024:i:3:d:10.1007_s12232-024-00458-7
    DOI: 10.1007/s12232-024-00458-7
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    References listed on IDEAS

    as
    1. Fiorenzo Mornati, 2018. "Vilfredo Pareto: An Intellectual Biography Volume I," Palgrave Studies in the History of Economic Thought, Palgrave Macmillan, number 978-3-319-92549-3, December.
    2. Fiorenzo Mornati, 2018. "Vilfredo Pareto: An Intellectual Biography Volume II," Palgrave Studies in the History of Economic Thought, Palgrave Macmillan, number 978-3-030-04540-1, December.
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      More about this item

      Keywords

      Pareto; Income distribution; Probabilities;
      All these keywords.

      JEL classification:

      • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
      • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
      • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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