Works by Other Authors that Discuss/Cite The Inequality Process 

Yakovenko, Victor. 2011. “Econophysics, Statistical Mechanics Approach to”. In Robert Meyers (ed.), Complex Systems in Finance and Econometrics. Pp. 247-272. New York: Springer.

P. 254

“Later, Thomas Lux brought to the attention of physicists [32] that essentially the same model, called the inequality process, had been introduced and studied much earlier by the sociologist John Angle [51, 52, 53, 54, 55], see also the review [56] for additional references. While Ispolatov et al. [50] did not give much justification for the proportionality law, Angle [51] connected this rule with the surplus theory of social stratification which [57] argues that inequality in human society develops when people can produce more than necessary for minimal subsistence. This additional wealth (surplus) can be transferred from original producers to other people, thus generating inequality. In the first paper by Angle [51], the parameter omega was randomly distributed, and another parameter, delta, gave a higher probability of winning to the agent with a higher money balance in (5). However, in the following papers he simplified the model to a fixed omega (denoted as omega by Angle) and equal probabilities of winning by higher- and lower-balance agents, which makes it completely equivalent to the model of [50]. Angle also considered a model [55,56] where groups of agents have different values of omega, simulating the effect of education and other “human capital”. All of these models generate a gamma-like distribution, well approximated by (9).”

Sinha, Sitabhra, Arnab Chatterjee, Anirban Chakraborti, and Bikas Chakrabarti. 2011. Econophysics: An Introduction. Weinheim, Germany: Wiley-VCH.

Chen, Shu-Heng and Sai-Ping Li. 2011. “Econophysics: Bridges over a Turbulent Current”. International  Review of Financial Analysis (July, 2011): doi:10.1016/j.irfa.2011.07.001 . 

Kuerten, K.E. and F.V. Kusmartsev. 2011. “Bose-Einstein distribution of money in a free-market economy II”. Europhysics Letters 93, #2, 28003. DOI: 10.1209/0295-5075/9328003.

Matsuo, M.Y. 2011. “Hierarchical mechanism of development of wealth and structure for a premodern local society”. Physical Review E 83, 066110. http://pre.sps.org/abstract/PRE/v83/16/e066110 

Durrani, I.R. 2010. Scientific Writings.

Garibaldi, Ubaldo and Enrico Scalas. 2010. Finitary Probabilistic Methods in Econophysics. Cambridge: Cambridge University Press.

Kinsella, Stephen, Matthias Greiff, and Edward Nell. 2010. “Income distribution in a stock-flow-consistent model with education and technological change”.

Sokolov, Andrey, Andrew Melatos, and Tien Kieu. 2010. “Laplace transform analysis of a multiplicative asset transfer model”. Physica A.

Yakovenko, Victor. 2010. “Statistical Mechanics of Money, Debt, and Energy Consumption”.

Chakraborti, Anirban, Ioane Tokes, Marco Patriarca, and Frederic Abergels. 2009. “Econophysics: Empirical Facts and Agent-based Models”. arXiv:0909.1974v1 [q-fin.GN] 10 Sep 2009 [ on-line at: http://arxiv.org/PS_cache/arxiv/pdf/0909/0909.1974v1.pdf

Chakrabarti, Anindya and Bikas Chakrabarti. 2009. “Statistical theories of income and wealth distribution”. Discussion Paper # 2009-45.  [on-line on http://www.economics-ejournal.org ].

Chakrabarti, Anindya and Bikas Chakrabarti. 2009. “Microeconomics of the ideal gas like market models”.  Physica A  vol. 388 (#19) pp. 4151-4158. doi:10.1016/j.physa.2009.06.038 .  [ on-line at  http://arxiv.org/abs/0905.3972 ].

Kinsella, Stephen, Matthias Greiff, Edward Nell. 2009. "Interacting agents produce endogenous inequality".  Kemmy Business School, University of Limerick, Limerick, Ireland. [ http://stephenkinsella.net/WordPress/wp-content/uploads/2009/10/interacting.pdf ].

Lopez-Ruiz, Ricardo, Jaime Sanudo, and Xavier Calbet. 2009. “Equiprobability, entropy, gamma  distributions, and other geometrical questions in multi-agent systems”. Entropy 11, 959-971; doi:10.3390/e11040959  [on-line at: http://www.mdpi.com/1099-4300/11/4/959/pdf ].

Lux, Thomas. 2009. “Stochastic behavioral asset pricing models and the stylized facts”. Working Paper #1426, Institute for the World Economy, University of Kiel. [ on-line at: http://ideas.repec.org/p/kie/kieliw/1426.html ].

Patriarca, Marco, Els Heinsalu, and Anirban Chakraborti. 2009. “Basic kinetic wealth-exchange models: common features and open problems”.  [ http://fiquant.mas.ecp.fr/index_files/basic_kinetic_wealth_exchange_models.pdf ].

Yakovenko, Victor and J. Barkley Rosser Jr. 2009. “Colloquium: Statistical Mechanics of Money, Wealth, and Income”. Reviews of Modern Physics 81, 1703-1725. [on-line at http://arxiv.org/abs/0905.1518 ].

                  Reviewing the history of particle system models of income distribution, Yakovenko and Rosser write (p. 3, pagination of on-line version):

   “Actually, this approach was pioneered by the sociologist John Angle (1986, 1992, 1993, 1996, 2002) already in the 1980s. However, his work was largely unknown until it was brought to the attention of econophysicists by the economist Thomas Lux (2005). Now, Angle’s work is widely cited in econophysics literature (Angle, 2006). Meanwhile, the physicists Ispolatov, Krapivsky, and Redner (1998) independently introduced a statistical model of pairwise money transfer between economic agents, which is equivalent to the model of Angle.”

Chakraborti, Anirban, and Marco Patriarca. 2008. "Gamma-distribution and wealth inequality". Pramana [Indian Academy of Sciences]. 71(#2): 233-243.

Hayes, Brian. 2008. Group Theory in the Bedroom and Other Mathematical Diversions. New York: Hill and Wang (division of Farrar, Straus, and Giroux).

Landini, Simone, and Mariacristina Uberti. 2008. "A statistical mechanic view of macro-dynamics in economics". Computational Economics 32: 121-146. 

Lux, Thomas. 2008. “Applications of Statistical Physics in Economics and Finance”. In J. Barkley Rosser Jr., (ed.). Handbook of Research on Complexity. London: Edward Elgar.

Chakrabarti, Bikas. 2007. “A Brief History of Economics: An Outsider’s Account”. [ on-line at http://arxiv.org/abs/0709.4093 ].

Chatterjee, Arnab, Sitabhra Sinha, Bikas Chakrabarti. 2007. “Economic Inequality: Is it Natural?”. Current Science 92:(#10, May 25, 2007): 1383-1389. [ on-line at: http://www.ias.ac.in/currsci/May252007/1383.pdf ].

Lux, Thomas. 2007. Applications of Statistical Physics to Finance and Economics. Economics Working Paper #2007-05. Department of Economics, Christian-Albrechts-Universität Kiel.

[ on line at: http://www.bwl.uni.kiel.de/gwif/downloads_papers.php?lang=en  ].  

50 (#5): 619-638. 

Samanidou, E., E. Zschischang, D. Stauffer, and T. Lux. 2007. “Agent-based Models of Financial Markets”. [ on-line at: http://arxiv.org/abs/physics/07011140 ].

Yakovenko, Victor. 2007 “Econophysics, Statistical Mechanical Approaches to”. Encyclopedia of Complexity and System Science. New York: Springer.  [ http://refworks.springer.com/complexity ]. [ on-line at http://arxiv.org/abs/0709.3662 ]. Reprinted in Robert A. Meyers. 2011. Complex Systems in  Finance and Econometrics. Pp. 247-273. New York: Springer.

Foscari, Piero. 2006. “Stochastic and deterministic Simulation Techniques for Traffic and Economics”.   PhD dissertation, University of Ferrara, Italy. [online at http://eprints.unife.it/27/1/Foscari_2006_PhD_Thesis.pdf ].

Chatterjee, Arnab and B.K. Chakrabarti. 2006. Abstract of "Heterogeneous agents are responsible for the Pareto tail". Applications of Physics to Financial Analysis 5 (June, 2006), 7. [http://www2.polito.it/eventi/apfa5/Abstract/abstracts.pdf ].   

Gupta, Abhijit Kar. 2006.  "Econophysics and Sociophysics: Trends and Perspectives".  Chakrabarti, B.K., A. Chakraborti, and A. Chatterjee, (eds.), Econophysics and Sociophysics. Weinheim , Germany : Wiley VCH.   

Katz, Michael, and Mark Stern. 2006. One Nation Divisible: What America Was and What It Is Becoming. New York: Russell Sage Foundation.

Patriarca, Marco, Els Heinsalu, and Anirban Chakraborti. 2006. “The ABCD’s of statistical many-agent economy models”. [ http://arxiv.org/abs/physics/0611245/ ].

Richmond, Peter, Stefan Hutzler, Ricardo Coelho, and Przemek Repetowicz. 2006. “A review of empirical studies and models of income distributions in society”. Chakrabarti, B.K., A. Chakraborti, and A. Chatterjee, (eds.), Econophysics and Sociophysics. Weinheim, Germany: Wiley VCH.

Scalas, Enrico, Mauro Gallegati, Eric Guerci, David Mas, and Alessandra Tedeschi. 2006. "Growth and allocation of resources in economics: the agent-based approach". [ http://arxiv.org/ftp/physics/papers/0608/0608221.pdf ]

Scalas, Enrico, U. Garibaldi and S. Donadio. 2006. “Statistical equilibrium in simple exchange games I: methods of solution and application to the Bennati-Dragulescu-Yakovenko (BDY) game”. The European Physical Journal B 53(#2, September): 267-272.

Scalas, Enrico. 2006. Abstract of “Growth and inequality processes: equilibrium and nonequilibrium models in physics and economics”.  Applications of Physics to Financial Analysis 5 (June, 2006), 43. [ http://www2.polito.it/eventi/apfa5/Abstract/abstracts.pdf  ].

Federal Committee on Statistical Methodology. 2005.  Statistical Policy Working Paper 22.  (Revised 2005)- Report on Statistical Disclosure Limitation Methodology.

        [ http://www.fcsm.gov/working.papers/spwp22.html ].

Lux, Thomas. 2005. “Emergent statistical wealth distributions in simple monetary exchange models: a critical review”. Pp. 51-60  in  A. Chatterjee, S. Yarlagadda, and B.K. Chakrabarti, (eds.), Econophysics of Wealth Distributions,  (the proceedings volume of the International Workshop on the Econophysics of Wealth Distributions, March, 2005, Kolkata, India  [ http://www.saha.ac.in/cmp/econophysics/ ] ). Milan, Italy: Springer. [on-line version of paper at:  [ http://arxiv.org/abs/cs/0506092 ].

Herring, Lee. 2003. “Mathematical Sociologist’s Angle on Income Makes Its Mark in Inequality Modeling”. Footnotes 31(No. 8, November) [  http://www2.asanet.org/footnotes/nov03/ ].

Kleiber, Christian and  Samuel Kotz. 2003.  Statistical Size Distributions in Economics and Actuarial Science. Pages 162, 163, 167, and 168.  New York: Wiley.

Nielsen, François and Arthur Alderson. 2001. “Trends in income inequality in the United States ”. Pp. 355-386 in Ivar Berg and Arne Kalleberg, eds., Sourcebook of Labor Markets: Evolving Structures and Processes . New York : Kluwer Academic.   

Ackerman, Frank, Neva R. Goodwin, Laurie Dougherty, and Kevin Gallagher (eds). 2000. The Political Economy of Inequality. Foreword by Derek Bok. Washington , DC : Island Press. [Page 37 in Frank Ackerman's "Overview Essay" to Part II, "The Distribution of Wealth and Power".].

Keister, Lisa. and Stephanie. Moller. 2000.  “Wealth Inequality in the United States”. Annual Review of Sociology 26: 63-81.

Krymkowski, Daniel. 2000. “The puzzle of Lenski’s Curve”. Rationality and Society 12: 25-28.

Caldwell, S.B., G.B. Clarke, and L.A. Keister, 1998. “Modelling regional changes in U.S. household income and wealth: a research agenda”. Environment and Planning C: Government and Policy: 16(6): 707-722.

Haas, Ain. 1993. “Social inequality in aboriginal North America: a test of Lenski’s theory”.  Social Forces 72(2): 295-313.

Sherraden, Michael, and Michael Wayne Sherraden. 1991. Assets and the Poor: a New American Welfare Policy. 

Gibbs, Jack. 1989. Control: Sociology’s Central Notion. Urbana: University of Illinois Press.