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A mechanism to derive multi-power law functions: An application in the econophysics framework (Articolo in rivista)
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- A mechanism to derive multi-power law functions: An application in the econophysics framework (Articolo in rivista) (literal)
- Anno
- 2007-01-01T00:00:00+01:00 (literal)
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- 10.1016/j.physa.2007.02.075 (literal)
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- Conference: 5th International Conference on Applications of Physics in Financial Analysis (APFA 5) Location: Turin, ITALY Date: JUN 29-JUL 01, 2006. Selected and revised paper. (literal)
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- INFM, CNR, I-10129 Turin, Italy; Unita Politecn Torino, Dept Phys, I-10129 Turin, Italy (literal)
- Titolo
- A mechanism to derive multi-power law functions: An application in the econophysics framework (literal)
- Abstract
- It is generally recognized that economical systems, and more in general complex systems, are characterized by power law distributions. Sometime, these distributions show a changing of the slope in the tail so that, more appropriately, they show a multi-power law behavior. We present a method to derive analytically a two-power law distribution starting from a single power law function recently obtained, in the frameworks of the generalized statistical mechanics based on the Sharma-Taneja-Mittal information measure. In order to test the method, we fit the cumulative distribution of personal income and gross domestic production of several countries, obtaining a good agreement for a wide range of data. (C) 2007 Elsevier B.V. All rights reserved. (literal)
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