dorsal/arxiv
View SchemaWealth distribution and Pareto's law in the Hungarian medieval society
| Authors | G. Hegyi, Z. Neda, M. A. Santos |
|---|---|
| Categories | |
| ArXiv ID | physics/0509045 |
| URL | https://arxiv.org/abs/physics/0509045 |
Abstract
The distribution of wealth in the Hungarian medieval aristocratic society is reported and studied. The number of serf families belonging to a noble is taken as a measure of the corresponding wealth. Our results reveal the power-law nature of this distribution function, confirming the validity of the Pareto law for such a society. The obtained Pareto index $\alpha=0.92$ is however smaller than the values currently reported in the literature. We argue that the value close to 1, of the Pareto index is a consequence of the absence of a relevant economic life in the targeted society, in agreement with the prediction of existing wealth distribution models for the idealized case of independently acting agents. Models developed to explain city populations may also be adapted to justify our results.
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"abstract": "The distribution of wealth in the Hungarian medieval aristocratic society is\nreported and studied. The number of serf families belonging to a noble is taken\nas a measure of the corresponding wealth. Our results reveal the power-law\nnature of this distribution function, confirming the validity of the Pareto law\nfor such a society. The obtained Pareto index $\\alpha=0.92$ is however smaller\nthan the values currently reported in the literature. We argue that the value\nclose to 1, of the Pareto index is a consequence of the absence of a relevant\neconomic life in the targeted society, in agreement with the prediction of\nexisting wealth distribution models for the idealized case of independently\nacting agents. Models developed to explain city populations may also be adapted\nto justify our results.",
"arxiv_id": "physics/0509045",
"authors": [
"G. Hegyi",
"Z. Neda",
"M. A. Santos"
],
"categories": [
"physics.soc-ph",
"physics.data-an"
],
"title": "Wealth distribution and Pareto\u0027s law in the Hungarian medieval society",
"url": "https://arxiv.org/abs/physics/0509045"
},
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