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Author Aoyama, Hideaki ♦ Yoshikawa, Hiroshi ♦ Iyetomi, Hiroshi ♦ Fujiwara, Yoshi
Source arXiv.org
Content type Text
File Format PDF
Date of Submission 2008-09-20
Language English
Subject Domain (in DDC) Computer science, information & general works ♦ Social sciences ♦ Economics ♦ Financial economics ♦ Natural sciences & mathematics ♦ Physics
Subject Keyword Quantitative Finance - General Finance ♦ Physics - Physics and Society ♦ Quantitative Finance - Statistical Finance ♦ physics:physics ♦ q-fin
Abstract We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey power-distributions, in sharp contrast to the equilibrium theories of mainstream economics. The Pareto index is found to decrease with the level of aggregation, {\it i.e.}, from workers to firms and to industrial sectors. In order to explain these phenomenological laws, we propose a superstatistics framework, where the role of the fluctuating temperature is played by the fluctuating demand.
Educational Use Research
Learning Resource Type Article
Page Count 13


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