Authors
Fabio Clementi, Mauro Gallegati, Giorgio Kaniadakis
Publication date
2007/5
Journal
The European Physical Journal B
Volume
57
Issue
2
Pages
187-193
Publisher
EDP sciences
Description
Starting from the generalized exponential function , with exp 0(x)=exp (x), proposed in reference [G. Kaniadakis, Physica A 296, 405 (2001)], the survival function P>(x)=exp κ(-βxα), where x∈R+, α,β>0, and , is considered in order to analyze the data on personal income distribution for Germany, Italy, and the United Kingdom. The above defined distribution is a continuous one-parameter deformation of the stretched exponential function P> 0(x)=exp (-βxα) to which reduces as κ approaches zero behaving in very different way in the x→0 and x→∞ regions. Its bulk is very close to the stretched exponential one, whereas its tail decays following the power-law P>(x)∼(2βκ)-1/κx-α/κ. This makes the κ-generalized function particularly suitable to describe simultaneously the income distribution among both the richest part and the vast majority of the population, generally …
Total citations
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Scholar articles
F Clementi, M Gallegati, G Kaniadakis - The European Physical Journal B, 2007