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Super Title 2018 KAIST Math. Colloquium
Title Pareto distributions in economics
Speaker 김지희  (  KAIST  ) Date 2018-11-22
Host KAIST Place KAIST
VOD    
This talk introduces one of surprising empirical regularities observed in economics: Pareto distributions are everywhere. Wealth and income, the size of cities and firms, stock market returns, to list but a few, are all known to follow a Pareto distribution. I first highlight key empirical facts and describe some economic theories that have been proposed to explain the regularity. To be more specific, I will put emphasis on inequality in income distributions. A simple mechanism as well as more complex random growth models that give rise to Pareto distributions will be discussed to explore dynamics of income inequality.

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