since 24 September 2004
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Understanding the distribution of income and wealth has been a classic
problem in economics since Vilfredo Pareto, who discovered that for the
high income this follows a power law.
Data analysis over years have revealed that the presence of the power law tail
is universal for all economies, though the exponent (known after Pareto)
changes from country to country. However, the low income follows a different
distribution (either Gibbs or log-normal).
The Proceedings of the Workshop has been published in, Econophysics of Wealth Distributions, New Economic Windows Series, Ed. Arnab Chatterjee, Sudhakar Yarlagadda, Bikas K Chakrabarti, Springer-Verlag Italia, Milan (2005).
A report on this workshop appears in the 12 March 2005 issue of New Scientist.