A variation of the Dragulescu-Yakovenko income model
classification
💱 q-fin.ST
stat.AP
keywords
distributiondragulescu-yakovenkoexponentialincomemodeltruncatedaccuratecannot
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In the context of the Dragulescu-Yakovenko (2000) model, we show that empirical income distribution with truncated datasets, cannot be properly modeled by the one-parameter exponential distribution. However, a truncated version characterized by an exponential distribution with two parameters gives an accurate fit.
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