Entropic Origin of the Probability Distributions of Money, Income, and . . . .

MAY 12, 2014 | 5:00 PM TO 6:30 PM

Details

WHERE:

The Graduate Center
365 Fifth Avenue

ROOM:

4102: Science Center

WHEN:

May 12, 2014: 5:00 PM-6:30 PM

ADMISSION:

Free - Refreshments served at 4:30 PM

Description

Abstract:
 Analysis  shows that income distributions in the USA, European Union, and other countries exhibit a well-defined two-class structure.  The majority of the population (about 97%) belongs to the lower class.   Analysis of energy consumption shows decreasing inequality in agreement with the maximal entropy principle.  
.

The latter topic was featured on Brian Lehrer's TV show at
http://www.cuny.tv/show/brianlehrer/PR2002638  (around 40 minutes). 

All papers are available at
http://physics.umd.edu/~yakovenk/econophysics/