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A study of Methods from Statistical Mechanics applied to income distribution

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  • Elvis Oltean
  • Fedor Kusmartsev

Abstract

We applied Dirac distribution, Bose-Einstein distribution, and occasionally Boltzmann-Gibbs distribution in order to determine which is optimal for income distribution on a large pool of countries. The best fit to the data was observed in the case of Fermi-Dirac distribution, for which the coefficient of determination showed the best goodness of fit to the data. Using this distribution for data (spun throughout more years), we obtained the underlying critical parameters of annual income distribution such as chemical potential and temperature. The next step was to explore the evolution of income using economic analogues to chemical potential and temperature. Using as background the analogy made by Yakovenko between temperature from thermodynamic systems and nominal income from Economics, we found other analogies that would allow further analysis and explanation of income.

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  • Elvis Oltean & Fedor Kusmartsev, 2014. "A study of Methods from Statistical Mechanics applied to income distribution," Papers 1410.3128, arXiv.org, revised Mar 2016.
    • Handle: RePEc:arx:papers:1410.3128
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    1. Tomassi, Federico, 2010. "When is social protection productivity-enhancing? Costs and benefits on economic performances," MPRA Paper 44381, University Library of Munich, Germany.
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