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B0544
Title: $\kappa$-generalized models of income and wealth distributions: A survey Authors:  Fabio Clementi - University of Macerata (Italy) [presenting]
Mauro Gallegati - Polytechnic University of Marche (Italy)
Abstract: A survey of results related to the ``$\kappa$-generalized distribution'' is provided. $\kappa$-generalized distribution is a statistical model for the size distribution of income and wealth. Topics include, among others, discussion of basic analytical properties, interrelations with other statistical distributions as well as aspects that are of special interest in the income distribution field, such as the Gini index and the Lorenz curve. An extension of the basic model that is most able to accommodate the special features of wealth data is also reviewed. The given survey of empirical applications shows the $\kappa$-generalized models of income and wealth to be in excellent agreement with the observed data in many cases.