The paper discusses a model based on generalized Lotka Volterra dynamics and Langevin equations to explain the equilibrium solution for the probability distribution of wealth, which shows a Pareto style power law for large wealth values and a sharp decline for small values. The model suggests that the distribution of wealth remains time-independent even if total wealth varies, drawing parallels with thermodynamics to define 'econodynamics'. The paper also explores the implications for stock market returns and economic policy.
documents/EFTA01147179.pdf
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