Understanding the distribution of income and wealth in an economy
has been a classic problem in economics for the last hundred years.
Apart from the rapidly decaying number density of people with their
income crossing over to a robust power law for the very rich, known
as the Pareto power-law, after Vilfredo Pareto. With the
availability of accurate data from finance/income-tax departments
of various countries, several robust features of the income
distribution have been established. The book will report on the
major models developed mainly by the (econo-) physicists over the
last decade. Almost all the major physicists and economists
involved in these studies will review their latest work and the
associated developments. Physics models, in particular the gas
models for markets will be extensively utilised and discussed.
Apart from simulation studies and their comparison with the latest
observed data, major analytical developments will be discussed.
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