PARETO'S LAW FOR INCOME OF INDIVIDUALS AND DEBT OF BANKRUPT COMPANIES

Hideaki Aoyama · Wataru Souma · Yuichi Nagahara · Mitsuhiro P. Okazaki · Hideki Takayasu C · Misako Takayasu

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Complex Systems and Time Series Analysis Income, Poverty, and Inequality Statistical Mechanics and Entropy

Abstract

We analyze the distribution of income and income tax of individuals in Japan for the fiscal year 1998. From the rank-size plots, we find that the accumulated probability distribution of both data obey a power law with a Pareto exponent very close to -2. We also present an analysis of the distribution of the debts owed by bankrupt companies from 1997 to March 2000, which is consistent with a power law behavior with a Pareto exponent equal to -1. This power law is the same as that of the income distribution of companies. Possible implications of these findings for model building are discussed.

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2008Emergent Macroeconomics: An Agent-Based Approach to Business Fluctuations 2002Zipf's Law everywhere.2004Zipf law in firms bankruptcy 2003Growth and fluctuations of personal and company's income 2002Wealth distribution in an ancient Egyptian society 2010Bankruptcy risk model and empirical tests

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