Is the wealth of the Forbes 400 lists really Pareto distributed?

Stephen Chan, Jeffrey Chu, Saralees Nadarajah

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Abstract

A number of researchers have studied the wealth distribution of the Forbes 400 lists (for example, Klass et al. (2006)). They argue that the wealth is Pareto distributed. We ask the question: does the Pareto distribution really give a statistically adequate fit? We find other distributions giving statistically adequate fits.

Original languageEnglish
Pages (from-to)9-14
Number of pages6
JournalEconomics Letters
Volume152
Early online date21 Dec 2016
DOIs
Publication statusPublished - 1 Mar 2017

Keywords

  • Anderson darling test
  • Beta Pareto distribution
  • Estimation

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