The Forbes 400, the Pareto power-law and efficient markets

European Physical Journal B

Volumn 55, Issue 2, 2007, Pages 143-147

  Klass, O S ^a   Biham, O ^a   Levy, M ^b   Malcai, O ^a   Solomon, S ^a  

^a HEBREW UNIVERSITY OF JERUSALEM   (Israel)

^b HEBREW UNIVERSITY OF JERUSALEM   (Israel)

Author keywords

[No Author keywords available]

Indexed keywords

FINANCIAL MARKET FLUCTUATIONS; INVESTORS; MARKET HYPOTHESIS; PARETO POWER LAW;

INDUSTRIAL ECONOMICS; MARKETING; PARETO PRINCIPLE; RANDOM PROCESSES;

STATISTICAL METHODS;

EID: 33847326338     PISSN: 14346028     EISSN: 14346036     Source Type: Journal    
DOI: 10.1140/epjb/e2006-00396-1     Document Type: Article

References (31)

1. For the lists from recent years see www.forbes.com/lists
2. G.K. Zipf, Humen Behavior and the Principle of least Effort (Addison-Wesley Press, Cambridge, MA, 1949)
3. P.W. Anderson, Some Thoughts about Distributions in Economics, in The Economy as an Evolving Complex System II, edited by W.B. Arthur, S.N. Durlauf, D.A. Lane, SFI Studies in the Sciences of Complexity (Addison Wesley Longman, 1997)
4. V. Pareto Cours d'Économique Politique (Macmillan, Paris), Vol. 2 (1897)
5. J. Steindl, Random Processes and the Growth of Firms A Study of the Pareto Law (Charles Griffin and Company, London, 1965)
6. A.B. Atkinson, A.J. Harrison, Distribution of Total Wealth in Britain (Cambridge University Press, Cambridge, 1978)
7. J. Persky, J. Economic Perspectives 6, 181 (1992)
8. M. Levy, in The Economy as an Evolving Complex System III, edited by S. Durlauf, L. Blume (Oxford University Press, 2003)
9. O.S. Klass, O. Biham, M. Levy, O. Malcai, S. Solomon, Economics Lett. 90, 290 (2006)
10. D.G. Champernowne, Econometrica 63, 318 (1953)
11. H. Wold, P. Whittle, Econometrica 25, 591 (1957)
12. H.A. Simon, C.P. Bonini, Am. Econ. Rev. 48, 607 (1958)
13. H. Kesten, Acta. Math. 131, 207 (1973)
14. M. Levy, S. Solomon, Int. J. Mod. Phys. C 7, 595 (1996)
15. D. Sornette, R. Cont, J. Phys. I France 7, 431 (1997)
16. H. Takayasu, A.-H. Sato, M. Takayasu, Phys. Rev. Lett. 79, 966 (1997)
17. M. Marsili, S. Maslov, Y.-C. Zhang, Physica A 253, 403 (1998)
18. O. Malcai, O. Biham, S. Solomon, Phys. Rev. E 60, 1299 (1999)
19. J.-P. Bouchaud, M. Mezard, Physica A 282, 536 (2000)
20. J. Silver, E. Slud, K. Takamoto, J. Econ. Theory 106, 417 (2002)
21. E.F. Fama, J. Finance 25, 383 (1970)
22. E.F. Fama, J. Finance 46, 1575 (1991)
23. 2 ≪ 1. Using other forms of p(λ) such as the Gaussian distribution, which exhibit finite values of the variance, we found that the Pareto exponent does not depend on p(λ)
24. H.E. Stanley, Introduction to Phase Transitions and Critical Phenomena (Oxford University Press, Oxford, 1971)
25. B. Gutenberg, C.F. Richter Ann. Geophys. 9, 1 (1956)
26. M. Levy J. Economic Theory 110, 42 (2003)
27. B.B. Mandelbrot, J. Business 36, 394 (1963)
28. R.N. Mantegna, H.E. Stanley, Nature 376, 46 (1995)
29. P. Gopikrishnan, V. Plerou, L.A.N. Amaral, M. Meyer, H.E. Stanley, Phys. Rev. E 60, 5305 (1999)
30. O. Biham, Z.-F. Huang, O. Malcai, S. Solomon Phys. Rev. E 64, 026101 (2001)
31. A. Drǎgulescu, V.M. Yakovenko, Physica A 299, 213 (2001)